Can I be taxed on a timeshare gift?

Timeshare companies offer gifts and incentives to attract people to attend a presentation. These gifts are usually discounts, complimentary meals, free tours and excursions, and can sometimes be physical gifts like bikes, boxes of wine and so forth. In these cases, there is no need to pay tax on these gifts.

Some these companies give cash as an incentive to attend a presentation which can be a grey area when it comes to tax. However, usually the amount given is below any taxable threshold, although you should check your tax status if you are concerned. It is not that common for a timeshare developer to offer cash, and frequently, any monetary incentives are usually redeemable against the purchase of the timeshare or a vacation accommodation rental.

PRESENTATION GIFTS

3 Comments

  • Ashley Murray says:

    Think about this; If timeshares were good enough, Why would any resort give you a tour and a free breakfast to get you to attend their sales presentation?

  • Agustina Hoffard says:

    The truth is that Timeshare scams are increasing, and every day more victims fell for them. Fortunately, there are many solutions to get rid of an unwanted timeshare; however, the best way to dump a timeshare is by cancelling the contract. Timeshare cancellation has many advantages, but the most important is that once the contract is properly cancelled, there are no further responsibilities attached to the resort.

  • Mia Thompson|Timeshare Scams says:

    Timeshare fraud has been around since the timeshare idea was created, but they increase during poor economy. When times are difficult, timeshare owners are stuck with properties they can´t travel to or even afford. Desperate to recoup some money to pay for bills, they can easily become victims to scams artists pretending to be their timeshare salvation who will take upfront fees -as much as five number figures in some cases- but fail to fulfill their promise.

Leave a Comment