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Gift Tax: Any return on tax?

  • 04-11-2016 01:34PM
    #1
    Registered Users, Registered Users 2 Posts: 286 ✭✭


    Hi,
    I am thinking on giving 3000 euros to my child this year. So at the end of the year if I declare it, will I be getting any tax return on the tax I paid during this year?

    I know the first 3000 euros is non-taxable for the child. So is the tax advantage only to the child and not to the parent?

    Regards,
    Kevin


Comments

  • Registered Users, Registered Users 2 Posts: 14,574 ✭✭✭✭Geuze


    Correct.


  • Registered Users, Registered Users 2, Paid Member Posts: 27,954 ✭✭✭✭Peregrinus


    Yes. You do not get any tax deduction for the amount you gift to other people.


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