Search results

  1. Z

    Tax implications unmarried couple buying house in cash

    No as we don't have equal amounts of cash we are thinking of buying a house with one contributing 70% of the money and the other 30% as one doesn't have enough to contribute 50%.
  2. Z

    Tax implications unmarried couple buying house in cash

    Yes one person contributing 70% cash and the other 30% of the cash.
  3. Z

    Tax implications unmarried couple buying house in cash

    Any tax implications on the above scenario does anyone know? Couple buying house in cash, 70/30 split, house 60k. Not sure if there would be tax implications immediatly or tax problems if marriage occured at a later date.
  4. Z

    CGT/CAT on gifted and subsequently sold property

    Would the child qualify for an exemption for CAT anyway as it was parent to child gift from catagory a and no other gift had been made and it was under the threshold? Presume the 6 year rule would only come into play if it was over the threshold? Going to see a tax consultant week after next to...
  5. Z

    CGT/CAT on gifted and subsequently sold property

    What would have happened if it was a house that was transferred to me, not lived in by me after the transfer, not rented out and then sold on? Just curious if the same laws apply or is it different?
  6. Z

    CGT/CAT on gifted and subsequently sold property

    "What would the open market value of the site been when acquired by your parents in 1991?" I have no idea to be honest. It's a very small site in the countryside but a good well connected area, not isolated but it was only an eight of an acre! So it wouldn't have been worth much really back in...
  7. Z

    CGT/CAT on gifted and subsequently sold property

    Unfortunately they bought it in the early 90's for a "token" amount from my mothers friend, so the difference between what they paid for the site and the value it was when given to me is around 100k. Which seems to make a quite substantial tax bill. So they were as good as gifted the site...
  8. Z

    CGT/CAT on gifted and subsequently sold property

    sorry should have said cgt i think, i was referring to the info in Section 603A quoted above.
  9. Z

    CGT/CAT on gifted and subsequently sold property

    So if the parent now realising the bill that has arisen for the child and wants to not claim the cat relief as they never did so formally anyway, they cannot take responsibility for the tax bill? It is forced to the child on disposal, is that correct? What a mess! Do they allow you to pay it...
  10. Z

    CGT/CAT on gifted and subsequently sold property

    I never paid stamp duty - not sure what the reason but the solicitors letter simply said it was exempt. When the site was transferred to me my parents never submitted a CAT form for asset disposal, and therefor never claimed tax exemption based on the site being transferred to their child. So I...
  11. Z

    CGT/CAT on gifted and subsequently sold property

    No we are not farmers, they just had purchased another site which they were planning on building on and moving into, changed their minds and gifted it to me instead. When it was transferred over the solicitor advised us as it was valued under 105k there would be no "gift tax". My parents...
  12. Z

    CGT/CAT on gifted and subsequently sold property

    Thank you both for your replies, much appreciated. The text above has me concerned that I may in fact be liable for tax - but I don't fully understand what it means. When my parents transferred the site there was no claims or forms lodged with the revenue - should something have been lodged at...
  13. Z

    CGT/CAT on gifted and subsequently sold property

    Any ideas on the following scenario - I thought I wasn't liable for tax but I am concerned now that I may somehow be liable. Gifted site 8 years ago from the folks. Intention to build which for various reasons couldn't go ahead. Sold last year for less than half the price it was valued at when...
  14. Z

    buying a house - EA looking for proof of mortgage

    Has anyone heard of this before? The estate agent looking for proof of mortgage? The thing is that we don't have a mortgage, we want to buy in cash, we have a reasonable amount available but not the full asking prices that are out there. We would be putting in offers 20% to 30% lower depending...
  15. Z

    house bought in two names with one persons cash

    thanks.
  16. Z

    How is it going with the movement of your savings abroad?

    I am a bit confused about this subject, is Rabo bank considered a foreign bank and is there tax implications to moving my savings to them? I have a relatively small amount of savings but am very very nervous it will be lost, its currently in a 21 day notice account in ptsb and I want to move it...
  17. Z

    fiancee inheritance rights

    question - have googled and not found the answer - i want to know will my faincee have any legal rights to my estate if something happens to me? i want it to go to them and not family as we live together but am concerned there is no provision in the law for fiance? ie they would have to pay huge...
  18. Z

    Average savings and income for ~26 year old?

    all are around the 26/27 age mark, all girls. i got a shock when we were discussing it as i thought when people were saying they had savings they meant maybe under 10k at least - and that would be doing well. well done to them for having figures like 45k, 50k, i wish i could do it.
Top