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Quickclaim deed / trust fund

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  • 24-05-2021 3:53pm
    #1
    Flickabono
    Registered Users Posts: 2 ✭


    Just wondering can anyone help with quick claim deeds any information cant find anything on google and trust fund that is being set up what are the taxes in ireland.
    Thank you


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    #2
    Victor
    Registered Users Posts: 78,290 ✭✭✭✭Victor


    Do you mean a "Quitclaim deed"? https://en.wikipedia.org/wiki/Quitclaim_deed


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    #3
    Flickabono
    Registered Users Posts: 2 ✭Flickabono


    Yeah but looking for more information is this used in Ireland and the conditions


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    #4
    Victor
    Registered Users Posts: 78,290 ✭✭✭✭Victor


    Have a look here: https://www.revenue.ie/en/gains-gifts-and-inheritance/cat-thresholds-rates-and-aggregation-rules/index.aspx


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    #5
    Peregrinus
    Registered Users Posts: 26,144 ✭✭✭✭Peregrinus


    It's not used in Ireland. It's used in the US.

    You mention trusts. Trusts are used in the US to secure various tax outcomes. The taxation of trusts in Ireland is completely different from the taxation of trusts in the US, and nothing of what you read about the use of trusts in the US for tax purposes has any relevance at all in Ireland. And if you want to understand the taxation of trusts in Ireland, starting with a comparison of US tax treatment is a very confusing and unhelpful place to start.

    So, if you've heard about some tax-driven structure in the US that involves quit claim deeds and trust funds and you're wondering if it would be effective in Ireland the answer is no, certainly not.

    If you have a particular tax outcome that you hope to achieve in Ireland set it out, and boardies might offer ideas about how whether and how you might achieve it. But dismiss from your mind any thoughts about how that outcome might be achieved in the US; it's not relevant. The US is a whole other country; they have their own tax laws.


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