The five gift rule says that you should give five gifts to your loved ones: one for each of the following categories: something they want, something they need, something to wear, something to read, and a special gift.
It involves giving each child 7 gifts, no more and no less. This can be done by sticking to a budget or by gifting specific items from different categories on a pre-determined list. The 7 gifts rule has become especially popular with minimalist and frugal living families because it keeps the holiday season simple.
Other parents have come up with variations such as the Rule of 10, adding six more gifts to the original four: something to wear on your feet, something to make, something to do, something to play as a family, something to give to others, and something to do for others.
The five gift rule says that you should give five gifts to your loved ones: one for each of the following categories: something they want, something they need, something to wear, something to read, and a special gift.
FINRA Rule 3220 (Influencing or Rewarding Employees of Others) (the Gifts Rule) prohibits any member or person associated with a member, directly or indirectly, from giving anything of value in excess of $100 per year to any person where such payment is in relation to the business of the recipient's employer.
The 4 gift rule is very simple: you get each of your children something they want, something they need, something to wear, and something to read.
Give that special someone six meaningful gifts: something they want, something they need, something to wear, something to read, something to share, and something to do. Give with intention and love and make Christmas about making memories.
One way to manage the gift-giving when it comes to kids -- and save your sanity in the process -- is the four-gift rule: Something they want, something they need, something to wear and something to read. A hack for managing the madness is particularly helpful this year when the shopping season is shorter than normal.
Others categorize them into "gifts of knowledge" (word of wisdom, word of knowledge, distinguishing between spirits), "gifts of speech" (tongues, interpretation, prophecy), and "gifts of power" (faith, healing, miracles).
The seven gifts of the Holy Spirit are an enumeration of seven spiritual gifts first found in the book of Isaiah, and much commented upon by patristic authors. They are: wisdom, understanding, counsel, fortitude, knowledge, piety, and fear of the Lord.
Thomas Aquinas says that four of these gifts (wisdom, understanding, knowledge, and counsel) direct the intellect, while the other three gifts (fortitude, piety, and fear of the Lord) direct the will toward God.
Under the $20 rule, an employee may accept an unsolicited gift of $20 or less per occasion and no more than $50 in a calendar year from one person. If the market value of a gift offered on any single occasion exceeds $20, the employee may NOT pay the excess value over $20 in order to accept the gift.
On 1 July 2025, due to the rolling five-year rule, the first year of gifting-free area has dropped off, meaning there is now $20,000 in the gifting-free area. Joanne could gift $10,000 here and it would not be assessed but would send the gifting-free area back to $30,000.
Avoid giving presents in front of others
Unless you're invited to a party, you shouldn't give presents when other people are around. If it's a Christmas gift, you can make others feel left out if you didn't get a gift for them, too.
Some follow the “rule of three.” This means that a child gets three presents, one for each gift baby Jesus received. Others believe in four: something you want, something you need, something to wear, and something to read. And some follow other guidelines entirely.
When invited to someone's home during the holidays, it is good etiquette to bring a token of appreciation in exchange for the invite. These gifts should not be extravagant or overly personalized. Often a bottle of wine, a box of chocolates, flowers or another holiday-themed gift will suffice. 1
As you may have to guess, the specific number of gifts for this rule is 7. You buy one gift to fit in each category and by the end; you have 7 gifts to give. You should go with the number of gifts that you feel comfortable with, there is no right or wrong number.
Does it matter when you give a gift? Yes, the timing of your gift matters. You can only gift up to €3,000 per calendar year to one person. If you gift over that amount, you'll be liable for Capital Acquisitions Tax at a rate of 33%.
Generally, a child should receive at most three or four gifts on their birthday, although giving them fewer or even one special gift is acceptable. Aside from that, you can use a four-gift rule which consists of something they want, need, wear and read.
Allowable gifting limits
You are allowed a tax-free giving area of up to $10,000 every fiscal year, with a cap of $30,000 over the course of five fiscal years. However, if the sum of all gifts given during a fiscal year is greater than $10,000, the excess will be counted as a deprived asset and charged accordingly.
Whether you're a single person or a couple, the permitted amount is $10,000 in cash and assets over one financial year or $30,000 in cash and assets over five financial years. This is commonly known as the $10k and $30k rule or a 'gifting free area'.
If you're already in a long-term relationship, then spending anywhere from $100-$200 for a gift is a safe bet. If you're newly dating, then something less pricey is definitely reasonable, like, say, around $25-$50.
These are known as Potentially Exempt Transfers (PET). For these gifts to be free of inheritance tax you need to survive for seven years after making the gift. You can give away most assets, including cash and shares. However, it has to be an outright gift from which you can no longer benefit.