If you’ve ever considered making a significant financial gift to your children, you’re not alone. A recent CIBC poll of 3,021 randomly selected Canadian adults found that the majority (76 per cent) of Canadian parents with a child 18 years or older would give their kids a financial boost to help them move out, get married, or move in with a partner.
Once you decide to give, however, the next question is how much should you give, what form should your gift take and what are the tax, and in some cases, family law considerations and opportunities associated with making a gift.
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