Building on a gifted site? Here are the key legal and tax rules

Building on a gifted site? There are several key legal and tax considerations you need to know about.

Even though no purchase money changes hands, the transfer still carries important legal and taxation consequences, and both parties should obtain independent legal and tax advice before proceeding. File picture

Dear Karen,

My father owns a farm and recently agreed to give me a site so that I can build my family home beside him.