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10 April, 22:35

The gift tax is used to prevent people from avoiding the

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  1. 10 April, 23:25
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    The gift tax is used to prevent people from avoiding the estate tax.

    The estate tax is what is paid when a person inherits some wealth. In order to avoid this, some people (typically elderly) would gift their property during their life - but then they will have to pay a tax too, the gift tax. This is done to prevent extreme wealth accumulation.
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