Did you know...?

Did you know that you can give a cash gift to an adult child and there are no income tax implications.

For instance, the child receives the gift tax-free and can use the gift as a down payment on a home for instance. This can prove tax beneficial to you if you otherwise have the cash invested and are paying tax on the income. Your rate of return after tax may be quite low.

If you do not personally need the cash or the investment income to support your lifestyle, it could perhaps be better used to assist with buying a home.