€3000 gifts allowable per anum

M

marsaday

Registered User
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The question is in the title. Is there a limit on the number of €3k gifts that a person can receive per anum from a number of people ? Thanks
 
Also worth pointing out that you can legitimately receive €3k from any person AND another €3k from that person's spouse. In addition, your spouse (if any) can also receive a further €3k plus €3k from the same couple. So that's €12k per annum that can perfectly legitimately be passed tax-free from one couple to another. And it's on a tax year basis, so you can do €12k on 31st December and again next day on 1st January.
 
If I receive €3,000 from multiple individuals within a calendar year, and the source is clearly identifiable, such as receiving the funds via ETF directly into my account with the reference "GIFT," am I required to complete the IT38s form?

I'm uncertain about this because I've come across other forum responses suggesting that there's no obligation to notify the revenue.

However, when I checked the Revenue website, it indicates otherwise i.e. "To claim the Small Gift Exemption, you need to file a CAT return Form IT38 online through myAccount or Revenue Online Service (ROS). You can also file a paper Form IT38S, in certain circumstances."
 
T McGibney said:
Your source is wrong.

No obligation to file an IT38 unless you receive cumulative assessable gifts and/or inheritances totalling 80% or more of the applicable group threshold.
Click to expand...
Thanks T McGibey for the response, its appreciated - the source I quoted is taken directly from the Revenue Small Gift Exemption page, so you can see my confussion?
 
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