For Section 73 relief to apply using a unit-linked savings plan for gift tax, regular contributions must be paid for how many years at least?

To qualify for Section 73 relief in the context of gift tax using a unit-linked savings plan, regular contributions must be made for a minimum of eight years. This requirement ensures that the contributions are consistent and that the plan serves its intended purpose of promoting long-term savings. The rationale behind this stipulation is to prevent individuals from making short-term contributions solely for tax relief and then discontinuing their payments. By establishing an eight-year commitment, the system encourages genuine investment in savings products that can grow over time, ultimately benefiting both the individual and the broader economic landscape.

The requirement for a longer contribution period underscores the importance of commitment in financial planning and tax strategies, reflecting a desire for sustainable financial behavior.