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Gift Tax?
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04-03-2010 3:23pm#1Hi all,
Just wondering about tax liabilty on gift tax.
Scenario is my mother wants to give us (her children) deposit for house when we ready to purchase so what is the limit she can give without there being a tax liability?
I tried the ros site and it looked like the limit was 414k but this seemed very high to me - is this figure correct?
If so we safe out as there's no way we getting that much
Thanks0
Comments
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Looks like you're right with that current amount according to ROS.
As an aside, I know someone who got 250k towards their first house from their mother, I almost wept (with typical Irish jealousy of course!
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