Does gift tax have to be paid when one of the spouses transfers money into a shared bank account?

Making a deposit into the couple’s shared bank account does not transfer the ownership to the other spouse. It is therefore not regarded as gift-giving.

What would give rise to gift tax is a situation where money in the shared account is spent for the benefit of one spouse based on a reason other than liability to provide maintenance. Such spending takes place, for example, if one of the spouses withdraws cash from the shared bank account and uses it to buy assets for personal use.

In other words, it is allowed for both spouses to transfer money into a shared bank account on the condition that the money will actually be used for the benefit of both spouses.