a tax imposed on the transfer of money or property from one living person to another by gift, payable by the donor.
Do You Give Presents Or Gifts? Here’s The DifferenceWhere do the words gift and present come from? Why does English use both? We're pretty sure it's not just so that children can ask for toys in multiple ways ...
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British Dictionary definitions for gift tax
another name for (the former) capital transfer tax
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012