How distant is the relationship before you think something is up

J

Joe_90

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For example:
My wife's sister's dogwalker's cousin's windowcleaner's wife's brother gave his son €10k in cash. Is there any tax due?
 
Joe_90 said:
For example:
My wife's sister's dogwalker's cousin's windowcleaner's wife's brother gave his son €10k in cash. Is there any tax due?
Click to expand...

Makes no sense I'm afraid (or am I missing a joke??). What you've decribed is some random punter giving his son €10k.

Assuming we're talking about a gift then: take off 3k annual gift exemption and that's a net 7k to come off a €225k threshold, and if that's all used up then its €7k X 33% is the tax due.

If there was no blood relationship between them then the above would still apply except that the tax free threshold is just €15,075, and if there are blood relations (broadly) but not parent to child then threshold of €30,150. Tax free thresholds used up by gifts or inheritances since 5 December 1991.

If the son is an electrician and his Dad paid him for work done in the course of his trade then would be income tax for the son (the heartless ruffian, charging his own father)
 
The point I'm trying to make is that you see posts on message boards with Phantom relationships, the old "my friend" has a problem scenario. Just taken to the extreme.

MODS it's not a tax post!!!
 
What are people afraid of?, Revenue trawling the boards for possible evasion and then putting a SWAT team into AAM HQ to find IP address to storm Eircom or other ISP's for the individuals names and addresses??

All credit to Jim Corr levels of paranoia, but I think people neednt be that worried. OR do we value on on-line persona's that much that we wouldnt like our virtual selves to be finger-wagged by other posters??
 
I tend to say , A friend of mine asked fairly often, The truth is they do and if I am asked for advice on a subject that I am not familiar with I come on here and ask, I get great advice and pass it on as I did recently, When the person in question thanks me I tell them I only forwarded their query on here and they should register themselves as you or one of the other AAM,ers sorted their issue for them, I still think I hold the record for the most money saved for advice given on the forum, 32,00.00 euro , A subsidence claim that was rejected time and again until I took advice from here and took on the ins company , I wont forget that one, Regards Cumnor.
 
Everyone who is in trouble has "a friend".

All others post in the first person.

Fact. :)
 
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