Can a son gift an inheritance to his son and still get the father son CAT threshold?

L

Laramie

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If I inherit money from my father and pay CAT on it and immediately give a gift to my children from my inheritance is this considered a gift from me to them and does that come under their €225k allowance that they will have. Or can it be seen that this was in fact a gift from their grandfather but only passed on through me and therefore come under the grandfather to grandchild allowance?
 
If it was an inheritance from your father then there is no issue - if it was a gift then you have a problem unless there is a sufficient period of time elapsed in between the successive gifts.
 
Remember a child can receive €3000 tax free from a parent or anybody else in any Tax Year
 
I was under the impression that an inheritance from a grandfather to son and then from son to child could come under the grandfather to grandchild transfer if done within 3 years.

The amount is €25k.

I will have paid full CAT on my bit. Does my son also have to pay further CAT. It's the same amount of money?
 
mandelbrot said:
If it was an inheritance from your father then there is no issue - if it was a gift then you have a problem unless there is a sufficient period of time elapsed in between the successive gifts.
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mandelbrot

That is very interesting.

Where is this written down?

It's another argument in favour of not giving gifts, but leaving it as an inheritance instead.
 
section 8 of the CATA deals with "gift splitting" and refers only to gifts, not inheritances.
 
Whats the limitations on gifting 3K to each of your kids tax free every year? Does it need to remain in an account until they are 18 for example?
 
So a father inherits from his father then decides to give a gift to each of his children. Is this classed as a gift from father to children, as part of a future inheritance from father to child or can it be allowable as an inheritance or gift from grandfather to grandchild?
It's the same money?
 
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