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CAT: annual small gift exemption v CAT lifetime thresholds

  • 17-09-2017 12:20pm
    #1
    Baby01032012
    Registered Users, Registered Users 2 Posts: 1,622 ✭✭✭


    Id appreciate your answers on this.

    Is the annual small gift exemption of €3000 taken into account when looking at lifetime thresholds.

    For example category 2 lifetime threshold for gifts/inheritence to grandchild of €32500. If the disponer gifts €3k per year tax free to that grandchild, is this aggregated in looking at the €32,500 lifetime threshold?

    Also, the €3k annual exemption, is that calendar year...so say gift to grandchild 1 October of €3k, followed by 1 January €3k?

    Many thanks


Comments

  • #2
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    Baby01032012 wrote: »
    Id appreciate your answers on this.

    Is the annual small gift exemption of €3000 taken into account when looking at lifetime thresholds.

    For example category 2 lifetime threshold for gifts/inheritence to grandchild of €32500. If the disponer gifts €3k per year tax free to that grandchild, is this aggregated in looking at the €32,500 lifetime threshold?

    Also, the €3k annual exemption, is that calendar year...so say gift to grandchild 1 October of €3k, followed by 1 January €3k?

    Many thanks

    Annual gifts with small gift exemption dont effect the lifetime threshold

    Yes small gift follows calendar year.


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