# Are gifts taxable in Canada?

> Gifts are not taxable to the person who receives them in Canada, and there is no gift tax. See when the person giving a gift may owe tax.

No. If someone gives you money or a gift, you do not pay Canadian income tax on it, and Canada has no gift tax.

## Can the person giving the gift owe tax?

Sometimes. Giving away property that has gone up in value, such as shares or a second property, counts as a sale at fair market value, so the giver may have a capital gain. Gifts between spouses usually pass at cost, so there is normally no gain at that point.

## What about income from the gift?

Interest or dividends the money earns after the gift are taxable to whoever owns it. Special attribution rules can send income from gifts to a spouse or to a minor child back to the giver.

## What about inheritance?

An inheritance is not taxed to the person who receives it, but the estate may owe tax on the death of the person who left it. See [Is it taxable?](https://tax-services.ca/is-it-taxable) for related cases.

## Do you have to report large gifts?

Not for receiving cash. Foreign property worth more than $100,000 CAD in total must be reported on a separate form, so ask a licensed professional if a gift comes from abroad.

For other payments, see the table on [Is it taxable?](https://tax-services.ca/is-it-taxable) and the [income tax calculator](https://tax-services.ca/calculators/income-tax/income-tax-calculator).

## Where does this information come from?

The general rules come from the [Canada Revenue Agency](https://www.canada.ca/en/revenue-agency.html) guidance on gifts, capital gains and the attribution rules. Your case may differ, so confirm with the CRA. Checked in October 2026. This is an independent information site: we provide no services, we do not represent the CRA or any organization, and we do not guarantee that anything here is accurate or current. We accept no liability for decisions based on it. Check the official source before you rely on it. See the [full disclaimer](https://tax-services.ca/disclaimer).

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Source: https://tax-services.ca/are-gifts-taxable-canada
Last updated: 2026-10-11
Independent information site. Not affiliated with the CRA. No services, no guarantee of accuracy. See https://tax-services.ca/disclaimer