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Possible tricky situation - Tax Q's

gidxg03 · 2006-10-05 07:43:20

I just wanted to check if anyone had any advice on the following situation. We have just sold a site we bought some years ago as we are planning to emegrate next year. We will be paying the CGT on the profits this month. However my parents have also come into some money and want to give us a gift of €20K for us emegrating.…

05-10-2006 7:43am

#1

gidxg03

Closed Accounts Posts: 7 ✭

Join Date: February 2002

Posts: 3

I just wanted to check if anyone had any advice on the following situation. We have just sold a site we bought some years ago as we are planning to emegrate next year. We will be paying the CGT on the profits this month. However my parents have also come into some money and want to give us a gift of €20K for us emegrating. With our current situation will the tax office have any issues with the gift?

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Comments

#2 05-10-2006 7:47am

Victor

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Posts: 68938

Different tax, gifts are subject to Capital Acquisitions Tax, which has very generous limits, especially from parent to child.

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