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T1170: Capital Gains on Gifts of Certain Capital Property.
T1170 Capital Gains on Gifts of Certain Capital Property.
Cash or near-cash gifts, hospitality rewards, manufacturer-provided gifts, and some other gifts and awards are always taxable.
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You can give gifts or money up to £3,000 to one person or split the £3,000 between several people. You can carry any unused annual exemption forward to the next tax year - but only for one tax year.
Consider the potential impact of capital gains taxes If you gift cash, generally there are no income tax consequences for the recipient, though there could be gift and estate tax implications to the donor. But if you give appreciated securities, the capital gains taxes can be significant.
A gift or an award that you give an employee is a taxable benefit from employment, whether it is cash, near-cash, or non-cash. However, we have an administrative policy that exempts non-cash gifts and awards in some cases. Cash and near-cash gifts or awards are always a taxable benefit for the employee.
No Gift Tax in Canada There is no "gift tax" in Canada. Any resident of Canada who receives a gift or inheritance of any amount, except from an employer, or as a tip or gratuity due to their employment, will not have to include this in their income.
You only have to pay Capital Gains Tax on your total gains above an annual tax-free allowance. You do not usually pay tax on gifts to your husband, wife, civil partner or a charity.

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