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Thank you so much Mike and Paul for the replies! Paul you've certainly got me thinking? Never thought it'd be so complicated! It was a straight forward scenario for me: my uncle only has 2 nephews (me and my bro) so he wants to help me out with my property journey, hence the one-off $50k...

Thanks Paul! 1. Mind if I ask what's considered as adequate evidence of the source? (It's money my uncle owns, from working in that country, so it'll be an overseas bank transfer to my bank) 2. Would it be best that he converts the currency into AUD already, and transfer AUD directly into...

Dear all, My uncle from overseas would like to provide a one-off money gift (possibly A$50k) to me. 1. This is not taxable right? 2. Do I need to declare to ATO? If yes, when? When I receive it or at tax return? 3. Do I need to keep a documentation that this is a money gift from a...