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CAT Exemption on cost of home refurbishment?

howay5o · 2016-05-06 14:04:53

Hi, I cannot find a definitive answer to this question anywhere. I buy a home in need of refurbishment. 30,000 euro for arguments sake. My parent then pays the builder directly for this work. Is this money exempt from CAT?

06-05-2016 2:04pm

#1

howay5o

Registered Users, Registered Users 2 Posts: 20 ✭

Join Date: November 2010

Posts: 14

Hi,

I cannot find a definitive answer to this question anywhere.
I buy a home in need of refurbishment. 30,000 euro for arguments sake.
My parent then pays the builder directly for this work.
Is this money exempt from CAT?

0

Comments

#2 06-05-2016 2:38pm

SRASE

Registered Users, Registered Users 2 Posts: 86 ✭✭

Join Date: July 2010

Posts: 86

No. You have received a benefit so it is considered a gift. You have an annual gift exemption of €3,000 and there is a lifetime tax free threshold of €280,000 for gifts and inheritances received from parents.

0