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CGT on share transfer

  • 20-06-2019 6:15pm
    #1
    The Burner
    Registered Users, Registered Users 2 Posts: 6 ✭


    My father wants to transfer shares to me and i am wondering what the CGT/CAT implications are? As far as i am aware i will be exempt from CAT as a category A person but in terms of my father will he be liable for CGT on the transfer? Is it the case that if i hold the shares for a specific period he wont be liable to CGT?


Comments

  • #2
    Geuze
    Registered Users, Registered Users 2 Posts: 14,039 ✭✭✭✭Geuze


    He pays CGT on any gain he made.

    You pay CAT subject to the normal exemptions.

    I never heard of your final sentence.


  • #3
    Calahonda52
    Registered Users, Registered Users 2 Posts: 12,888 ✭✭✭✭Calahonda52


    Geuze wrote: »
    He pays CGT on any gain he made.

    You pay CAT subject to the normal exemptions.

    I never heard of your final sentence.

    You pay CAT subject to the CAT thresholds, it is not an exemption.
    Your last sentence refers to a property related scheme, which may now be closed off, but not to shares

    “I can’t pay my staff or mortgage with instagram likes”.



  • #4
    dogsears
    Registered Users, Registered Users 2 Posts: 535 ✭✭✭dogsears


    There is a provision that if CAT and CGT arise on the same transfer (albeit for different people), one is set off against the other but the property in question, whatever it may be, must be held for 2 years by whoever its given to. That may be what you're referring to, however as you aren't going to be liable to CAT, it would not apply here.


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