Marriage question regarding capital gains tax

Geuze wrote: »

A good question.

You may recall the two men who got married under the new SSM law, to avoid CAT.

They were not both homosexuals, I think one was, but the other wasn't.

Speculating on the the sexual orientation above is wholly irrelevant as well as a whole list of other things.
OP
https://www.revenue.ie/en/gains-gifts-and-inheritance/cat-exemptions/exemption-on-transfers-between-spouses-or-civil-partners/index.aspx
if you get a civil partner ship put in place.
With nothing in place you are bot strangers

As you are not married, you are not technically related. Therefore the Group C threshold of 16,250 applies on any potential gift/ inheritances between you both. As such, any value of the gift/ inheritance exceeding the threshold will be liable to CAT at 33%. The draft calculation would be as follows:

MV on date of death (50% of MV of property) xx
Less Group C threshold (16,250)
Taxable value xx
@ 33% xx

If you gift 50% share to the other during lifetime, CGT needs also to be considered as if it was a 'deemed' sale. However, in this instance, the CAT due will be offset against CGT paid via a credit.

To answer your other point, there would be no tax advantages of being married with respect to the taxation of your wages- you both earn over the standard rate cut off point of 35,300. Therefore, neither of you would have unused credits/ bands to transfer over to the other person. Both of you earn a single person tax credit of 1,650 which is the same as earning 3,300 married tax credit between you.

Hope this helps?