Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Gifting money to my brother

  • 01-06-2017 08:48PM
    #1
    Klinger
    Registered Users, Registered Users 2 Posts: 13 ✭


    I would like to gift an amount of money to my brother. What is the most I can give him, without creating a tax liability for either of us?

    Many Thanks


Comments

  • #2
    HcksawJimDuggan
    Registered Users, Registered Users 2 Posts: 394 ✭✭HcksawJimDuggan


    Klinger wrote: »
    I would like to gift an amount of money to my brother. What is the most I can give him, without creating a tax liability for either of us?

    Many Thanks

    Anything over €32,500 will trigger a CAT liability for him. You can gift €3,000 to him per year without affecting the above threshold.

    No CGT on your side for cash gift.


  • #3
    wendydoll
    Registered Users, Registered Users 2 Posts: 436 ✭✭wendydoll


    you can gift a sibling up to 32,500 without tax as part of group B under the Capital Acquisitions Tax


  • #4
    Klinger
    Registered Users, Registered Users 2 Posts: 13 ✭Klinger


    Is that a once in a lifetime gift of 32,500? Or could I give multiple gifts over several years of this amount?


  • #5
    davo2001
    Registered Users, Registered Users 2 Posts: 3,337 ✭✭✭davo2001


    Klinger wrote: »
    Is that a once in a lifetime gift of 32,500? Or could I give multiple gifts over several years of this amount?

    Hi, I'm your long lost brother!


  • #6
    Allah snackbar
    Banned (with Prison Access) Posts: 161 ✭✭Allah snackbar


    davo2001 wrote: »
    Hi, I'm your long lost brother!

    Bastard , beat me too it :D


  • Advertisement
  • #7
    HcksawJimDuggan
    Registered Users, Registered Users 2 Posts: 394 ✭✭HcksawJimDuggan


    Klinger wrote: »
    Is that a once in a lifetime gift of 32,500? Or could I give multiple gifts over several years of this amount?

    Once in a lifetime.

    The €3k exemption is annual though. If you're married, you could gift him €3k & you're wife/husband could gift him €3k per year.


  • #8
    hjr
    Registered Users, Registered Users 2 Posts: 566 ✭✭✭hjr


    And if he's married, his wife would fall into Group C, which is around 15,000 lifetime gift....


Advertisement