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

ProudRossie

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?

howamidifferent

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

tenchi-fan

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

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

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!

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.

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.

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).

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?

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?

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:

mp22

closed