I want to gift my parents in Canada $100k - are there tax implications I should know about?

In Canada, there are no taxes on gifts, while in the U.S., taxes on gifts apply only to amounts beyond specific exemption thresholds, creating a complex tax environment.

One user expressed concern over a potential $100,000 gift to their parents, noting that although gifts are not taxed in Canada, such large transactions might trigger scrutiny from banks.

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