Tax reporting rules regarding less than 80% gift to adult son

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Hi,

We are considering giving our son some money and we see here that it is not necessary to file a return now if the gift to him is less than 80% of the allowance of €335,000. This will be totally separate to the small gift exemption. If this is the only amount that we will be making to him does this mean that he will declare it after our deaths or how is it declared at a later stage?

Filing obligations for disponers

This page outlines the filing obligations for disponers
www.revenue.ie www.revenue.ie
 
It's a cumulative lifetime allowance, If at any point in time (even if that's inheritance after your death) his cumulative gifts / inheritances in excess of the small gift exemptions, exceed 80% of his lifetime allowance then he will need to complete a return, even if no tax is then due.
 
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