According to the gifting rules, you can gift a maximum of $10,000 to a friend or relative per financial year and up to a total of $30,000 over the past five years.
Any amount that exceeds these limits will be counted as part of your assets for the assets test, potentially affecting your eligibility for social security benefits.
Note: This information is for general guidance only and may not suit your individual circumstances. Please consult a qualified professional before taking action.
