Do I need to pay tax on gift money from overseas in Australia?｜According to the Australian Taxation Office, gifts of money from relatives and friends (even from overseas) do not count as assessable income and therefore don't have to be declared by the giver or receiver when filing their tax returns - regardless of the amount.

Does the Australian Taxation Office consider money gifts from overseas relatives and friends taxable income? Would I be required to declare such gifts in my tax return, even if the amount is substantial? Are there any exceptions to this rule, or does it apply uniformly regardless of the source or size of the gift? Essentially, am I obligated to pay taxes on financial gifts received from abroad?