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CAT on gifts (site)

  • 08-12-2017 12:04pm
    #1
    almae34
    Registered Users, Registered Users 2 Posts: 53 ✭✭


    Can I ask if CAT would be due on a site gifted by a father to his daughter in 1999. Her residential home was built on this and they currently still live there.
    Received forms to sign from solictor for gifts and inheritance received since 1991.

    Father died in 2017.


Comments

  • #2
    source
    Registered Users, Registered Users 2 Posts: 5,303 ✭✭✭source


    almae34 wrote: »
    Can I ask if CAT would be due on a site gifted by a father to his daughter in 1999. Her residential home was built on this and they currently still live there.
    Received forms to sign from solictor for gifts and inheritance received since 1991.

    Father died in 2017.

    My understanding of this, and I'm open to correction, is that once the inheritance she is receiving now following the father's death coupled with the value of the site at the time of gifting doesn't exceed the threshold for CAT then no tax is payable, if it does exceed the threshold then 33% applies on anything above the threshold.

    Threshold is currently €310,000.

    As i said though, in open to correction.


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