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Gift Tax on land

  • 03-04-2013 12:14am
    #1
    Registered Users, Registered Users 2 Posts: 36


    Hello, first off I have been a long time visitor to this site but have only activated my account today.
    Im looking for some advise on my best options on gift tax.
    Basically, myself and my girlfriend are engaged and will be getting married in 2015 in Ireland. We are currently living in Australia for the last 2 years and will be staying until the wedding. We will then return to Oz for a few years to save money for a house.
    A distant relative of my girlfriends father has offered to give us a site for free. We are obviously delighted and very grateful for this as we want to build a house when we return and the site is in a great location very close to her parents.
    We want to get the ball rolling on this as soon as possible and get the site signed over. Now this is where I am looking for advice (or opinion if legal advice cannot be given)
    Would it be better to get the land signed over to both our names or just my fiancee?
    We will be applying for planning as soon as it is sorted and then a mortgage.
    I know the site has to be valued for tax reasons but can we get our own independent assessor or what happens?
    Also we will be applying for a mortgage before we are married.

    Sorry for all the questions. We are speaking with a solicitor during the week but i would like to have some information before we do.
    Thanks guys


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