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caretakers agreement

denisbg · 2023-11-24 11:43:23

if a son or daughter is living rent free in parents second house and has a caretakers agreement in place is there a tax liability

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24-11-2023 12:43pm

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denisbg

Registered Users Posts: 2 ✭

Join Date: February 2018

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if a son or daughter is living rent free in parents second house and has a caretakers agreement in place is there a tax liability

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#2 25-11-2023 12:58am
DFB-D

Registered Users Posts: 336 ✭✭

Join Date: December 2021

Posts: 329

Very possibly for the child there is CAT.
A caretakers agreement is not something you can reasonably predict Revenue will accept as having no gift element, but you can be sure if the children work near the location of the house and your home is not near, that Revenue have a very high threshold to avoid CAT.
That being said, if you think you have a genuine need for a caretaker rather than renting out the property, run it by your tax advisor.

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