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private loan: min interest rate to ensure not considered a gift

  • 26-08-2013 6:25pm
    #1
    baldeagle
    Registered Users, Registered Users 2 Posts: 8 ✭


    Hi,

    I'm in the fortunate situation where my parents are considering giving me a substantial private loan which I'd use for a lump sum payment on my mortgage.

    I am concerned Mr Revenue might consider this a gift and want CAT (i.e. 33% above the threshold, which in my case is low die to a prior gift).

    Any advise out there?


Comments

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


    baldeagle wrote: »
    Hi,

    I'm in the fortunate situation where my parents are considering giving me a substantial private loan which I'd use for a lump sum payment on my mortgage.

    I am concerned Mr Revenue might consider this a gift and want CAT (i.e. 33% above the threshold, which in my case is low die to a prior gift).

    Any advise out there?

    Seek professional advice. Read the charter


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