Friend of mine is in a fortunate position that she has a brother in another country that wants to give her money as a "gift". She is an Australian citizen (he is not) and the amount is over $10,000.
Could you please help me answer the following questions -
If one was to receive a lump sum of money from overseas being an Australian citizen, are there any fees or charges involved if it is a gift?
Is there a limit as to how much the gift can be and how many times that same person is able to receive such a gift?
Does the gift need to be declared?
Any other points one has to consider?
Thanks for your help