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Change year: 2010

Section 7 Liability to gift tax in respect of gift taken by joint tenants

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The liability to gift tax in respect of a gift taken by persons as joint tenants is the same in all respects as if they took the gift as tenants in common in equal shares.

How are joint tenant beneficiaries treated?

If you take a gift as a joint tenant, you are taxed as if you had taken the gift as a tenant in common in equal shares.

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