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Tax liability if gifted a motor vehicle

  • 31-01-2016 11:47pm
    #1
    Nomis21
    Registered Users, Registered Users 2 Posts: 1,409 ✭✭✭


    My sister is giving me her VW motorhome valued at about 12,000 Euro.

    As it is a gift am I liable for CAT or any other taxes?


Comments

  • #2
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 85,046 ✭✭✭✭Atlantic Dawn
    GDY151


    Limit is €30,150 from sibling to sibling...

    http://www.revenue.ie/en/tax/cat/thresholds.html


  • #3
    Steve
    Registered Users, Registered Users 2 Posts: 22,584 ✭✭✭✭Steve


    Bear in mind, this is a lifetime limit not a transaction limit so if you have had previous gifts they need to be taken into account.


  • #4
    goz83
    Registered Users, Registered Users 2 Posts: 8,035 ✭✭✭goz83


    What if he buys it for €1000?

    Who values the item?

    Just curious


  • #5
    Pat Mustard
    Registered Users, Registered Users 2 Posts: 9,554 ✭✭✭Pat Mustard


    Nomis21 wrote: »
    As it is a gift am I liable for CAT or any other taxes?

    Mod:

    This is a request for legal advice, which is not allowed by forum charter.

    No legal advice.


This discussion has been closed.
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