In Austria, giving bitcoin as a gift does not trigger a general gift tax, but gifts above specific value thresholds must be reported to the tax office. For relatives, gifts exceeding 50,000 euros within one year require notification, while for non-relatives, the threshold is 15,000 euros over five years. The fair market value at the time of the gift is used for reporting, and documentation of the transaction and acquisition costs is advised. Failure to report can lead to fines, but the notification itself is not a tax. This ensures transparency and proper tax history for future transactions involving the gifted bitcoin.
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