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Question on Gift Tax

  • 30-09-2009 12:00pm
    #1
    mollzer
    Registered Users, Registered Users 2 Posts: 255 ✭✭


    I am currently buying a house and if I were to put my partners name on the Deeds how much a percentage of the property value would we have to pay?

    And secondly, does this gift tax have to be paid out in one lump sum or can it be paid over a period of time?

    Thanks in advance.


Comments

  • #2
    TaxingTimes
    Registered Users, Registered Users 2 Posts: 145 ✭✭TaxingTimes


    If you are getting a mortgage, you need to consider whether the lender will allow you to put your partner's name on the deeds.

    Gift tax will depend on the value of the gift, and the return needs to be made under self-assessment within 4 months where the total gifts exceeds 80% of the threshhold. (the threshold for "strangers" in 2008 was €26,060)

    Provision can be made for payment in instalments in certain cases.

    I suggest that you take professional advice before doing this.


  • #3
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    Read the charter-

    Seek professional advice.

    Do not ask for a valuation of gift tax on an internet forum.

    Thread locked.


This discussion has been closed.
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