Cash as gift from parent's

Hi
My parents are getting on and while difficult to deal with their reducing health conditions, they have some small amount of cash in life policies coming to maturity. It is their wish to share this with their children now.
What is the position with gifting cash to us in regard to taxes? Iam getting differences in feedback on this.

Any help appreciated.
Dan.

Hi,

I think this thread is best placed in the Tax Forum so I have moved it there as you may get more relevant replies.

There are some previous threads on this subject and if you run the search option either on Google or you should find them.

Maybe the budget next week will help.

This aspect may be of interest too:


http://www.askaboutmoney.com/threads/3k-gift-tax-free.192687/

http://www.revenue.ie/en/tax/cat/gift-inheritance.html

http://www.revenue.ie/en/personal/circumstances/bereavement/inheritance-tax.html