Inheritance and Susi Grant.

Squiggle

The Susi website says that an Inheritance is included as "Reckonable Income", which is fair enough. Does anyone know how it is actually treated in the income calculations? Is the lump sum included in the relevant year or is it the deposit interest earned on the lump sum or something else entirely?
If it makes any difference it's my father, who I'm dependent on as the applicant, is getting an inheritance from his father.

Sup08

You could just check the SUSI website

SUSI Website - http://susi.custhelp.com/app/answers/detail/a_id/577/~/gifts-and-inheritances

I have received a gift/ inheritance, do I have to inform SUSI?
If you, your parents, legal guardians, spouse, civil partner or cohabitant (as applicable), received income from gifts or inheritances in 2016, you must enter this income into the SUSI application form.  
However, you do not need to advise us in the following circumstances -
If you are a mature independent applicant and the gift/ inheritance was given to you by your spouse, civil partner or cohabitant.
or
If you are a dependent applicant and the gift/ inheritance was between your parents/ legal guardians, or
If you are a dependent applicant and the gift/ inheritance was given to you by your parents/ legal guardians.
We need details of all other gifts and inheritances even if you did not have to report them to Revenue for Capital Acquistions Tax.  You should complete a Gifts and Inheritances Table which is at the end of the on-line application form and also available to download at
http://susi.ie/quick-links/susi-forms/
We may look for documentary evidence of the gift or inheritance, such as a letter from the donor/ executor or a Capital Acquisitions Tax Return, where applicable.

Squiggle

We've read the website and have seen the parts you referenced but are still non the wiser as to how the inheritance is actually treated in the income calculations. As I said in the OP

Is the lump sum included in the relevant year or is it the deposit interest earned on the lump sum or something else entirely?

If the lump sum inheritance in 2016, received by my father from his father, was €30k, is this added to my father's income to give total income?

How is the €30k dealt with in 2018 as the inheritance was received in 2016? Is it then Interest on those savings ( if they still exist ) that is counted as income?

Sup08

Squiggle wrote: »

We've read the website and have seen the parts you referenced but are still non the wiser as to how the inheritance is actually treated in the income calculations. As I said in the OP



If the lump sum inheritance in 2016, received by my father from his father, was €30k, is this added to my father's income to give total income?

How is the €30k dealt with in 2018 as the inheritance was received in 2016? Is it then Interest on those savings ( if they still exist ) that is counted as income?

It is only inheritance received within the reckon-able year. So this years application to SUSI (2017/18 academic year) would be the household income from 2016, including inheritance.

If the inheritance was received in 2015 and was still in existence but as savings or an investment, then it would only be the interest from the savings or investment that would be included and the inheritance would not be submitted in the gifts table.