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Duties and levies
Ngā whakaeke me ngā tiuti
Duties and levies: Gift duty

Gift duty basic information

Changes have been made to sections 2(2) and 61 of the Estate and Gift Duties Act so that gifts made on or after 1 October 2011 are no longer liable for gift duty and you no longer need to file any documents with us. The donor or agent remains responsible for keeping and maintaining records of the amount of debt that has been forgiven.

Gifts made before 1 October 2011

If you made a gift before 1 October 2011 of more than $27,000 in any 12-month period, you will have to pay gift duty. In some cases, gifts must be recorded with us even if they are not liable for duty.

For example, you must fill in a Gift statement (IR196) if you made gifts before 1 October 2011 with a combined total value of over $12,000 in any 12-month period.

Gifts made to create a charitable trust

Gifts made to create a charitable trust, or for establishing any society or institution exclusively for charitable purposes, or any gift in aid of such trust, society, or institution are exempt from gift duty.

From 1 July 2008, that charitable trust, society or institution established exclusively for charitable purposes will need to be registered by Charities Services for the gift to be exempt from gift duty.

Find out more about paying gift duty with our guide Gift duty - a guide for legal and tax practitioners (IR195)