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Own my new flat...will it affect my dole?

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  • 15-12-2011 3:44pm
    #1
    ProudRossie
    Registered Users Posts: 12 ✭


    Situation is i've been signing on for over a year but have come into some good fortune lately. A wealthy uncle who is ill has decided to settle his affairs and he bought two apartment for my myself and sister, his only real close family. I will be moving into mine and leaving rented accommodation meaning i will now be €80 a week better off, :) ( i wasnt receiving rent allowance etc). My question is, will any of this affect my dole?


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    #2
    howamidifferent
    Registered Users Posts: 1,817 ✭✭✭howamidifferent


    I dont know about dole but you may be liable for a gift tax...


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    #3
    tenchi-fan
    Closed Accounts Posts: 3,339 ✭✭✭tenchi-fan


    You definitely need to disclose it to welfare, but it may not affect your payments at all.


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    #4
    stevek93
    Registered Users Posts: 3,088 ✭✭✭stevek93


    Im not sure, but other than the apartment if you have come into some money do not tell them open a new account or stick it in a hole ;)


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    #5
    ronaneire
    Registered Users Posts: 1,698 ✭✭✭ronaneire


    stevek93 wrote: »
    Im not sure, but other than the apartment if you have come into some money do not tell them open a new account or stick it in a hole ;)

    Very clever ;)















    ......yeah right!


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    #6
    ProudRossie
    Registered Users Posts: 12 ✭ProudRossie


    stevek93 wrote: »
    Im not sure, but other than the apartment if you have come into some money do not tell them open a new account or stick it in a hole ;)

    Unfortunately not.


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    #7
    leeroybrown
    Closed Accounts Posts: 7,563 ✭✭✭leeroybrown


    It shouldn't affect your Jobseekers Allowance but legally will be liable for "Gift Tax" of 25% on everything after the first €33,208 of the valuation.


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    #8
    mathepac
    Banned (with Prison Access) Posts: 4,991 ✭✭✭mathepac


    leeroybrown wrote: »
    ... but legally will be liable for "Gift Tax" of 25% on everything after the first €33,208 of the valuation.
    Unfortunately it may be too late now, but you and your very generous uncle need tax advice. As pointed out by @leeroybrown the tax bill if your uncle proceeds with the gifts could be enormous (in your present circumstances).


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    #9
    Coillte_Bhoy
    Registered Users Posts: 7,889 ✭✭✭Coillte_Bhoy


    leeroybrown wrote: »
    It shouldn't affect your Jobseekers Allowance but legally will be liable for "Gift Tax" of 25% on everything after the first €33,208 of the valuation.

    believe it or not, the apartment cost €31,400 so i presume i'm exempt?


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    #10
    ronaneire
    Registered Users Posts: 1,698 ✭✭✭ronaneire


    ProudRossie wrote: »
    Situation is i've been signing on for over a year but have come into some good fortune lately. A wealthy uncle who is ill has decided to settle his affairs and he bought two apartment for my myself and sister, his only real close family. I will be moving into mine and leaving rented accommodation meaning i will now be €80 a week better off, :) ( i wasnt receiving rent allowance etc). My question is, will any of this affect my dole?
    ProudRossie wrote: »
    Unfortunately not.
    Coillte_Bhoy wrote: »
    believe it or not, the apartment cost €31,400 so i presume i'm exempt?

    You the same person?


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    #11
    ProudRossie
    Registered Users Posts: 12 ✭ProudRossie


    ronaneire wrote: »
    You the same person?

    LOL, no. Using a mates laptop, he told me about this forum, he must have logged in while i was away for a while earlier and i didnt notice.:rolleyes:


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    #12
    mp22
    Moderators, Business & Finance Moderators, Regional South Moderators Posts: 6,854 Mod ✭✭✭✭mp22


    closed


This discussion has been closed.
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