Small gift exemption - child to parent

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mise123

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Bit of a convoluted question around the €3,000 small gift exemption.
There are 3 generations in a family.
  • Bob is John's dad
  • John is Sean's dad
  • Sean a minor ... let's say he is 10
Can Bob give €3k to John and Sean? I think the answer to this is yes.

Then here's the question I can't find an answer for: can Sean give €3k to John? Remember, Sean is a minor.
 
Yes, you cannot do this as a means of giving the Dad €3K by a roundabout means from the Grandad. There are revenue guidelines around this, and I have seen them linked in other threads on here.
 
When you give a 3k gift every year by bank transfer to a child ( in my case x 2 kids) this is tax free as amount is equal to the exemption limit.
I understand that it does not count towards the aggregation for my lifetime.
Can someone clarify ....
When completing the Form 11 tax return do I need to leave the CAT section blank or do I fill it in with details of the 2 x 3k gifts that I have done
Many Thanks
 
Just to thrash this out a little further @mise123.......................

If I'm giving €6,000 each to my 2 kids (my spouse is gifting too) and I wanted to increase this without exceeding the exemption threshold. Could I ask my brother and his wife (who also have 2 kids) to gift my 2 kids €3,000 (or even €6,000) each and I would then gift his kids the same?

Thanks in advance.
 
galwegian44 said:
Just to thrash this out a little further @mise123.......................

If I'm giving €6,000 each to my 2 kids (my spouse is gifting too) and I wanted to increase this without exceeding the exemption threshold. Could I ask my brother and his wife (who also have 2 kids) to gift my 2 kids €3,000 (or even €6,000) each and I would then gift his kids the same?

Thanks in advance.
Click to expand...

Yes, you can do this so long at the kids are keeping/using the money and not funnelling it to parents.

Lucky children in these scenarios!
 
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