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CAT Exemption on cost of home refurbishment?

  • 06-05-2016 03:04PM
    #1
    Registered Users, Registered Users 2 Posts: 20


    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?


Comments

  • Registered Users, Registered Users 2 Posts: 86 ✭✭SRASE


    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.


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