gift with reservation


gift with reservation
A gift in which the donor retains some benefit from the asset given away. Examples include:
• shares given away from which the donor continues to receive the dividends;
• property given by a parent to a child, although the parent continues to live in the property, rent-free
.
The Inland Revenue has detailed rules to cover gifts with reservation to ensure that such gifts are not used as a means of avoiding tax.

Accounting dictionary. 2014.

Look at other dictionaries:

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