kilamangiro
Registered User
- Messages
- 13
Is there a way around this? Perhaps a loan from my fiance to myself which could then be cancelled when we are married.
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And that is 3000 from each parent to each person.
Sounds to me like her parents, though well intentioned, have done a very stupid thing. If her parents had given their daughter a gift of 100K, then that is completely tax free. She can then chose to use this as a deposit on a house. The remaining money required to buy the house would come from a joint mortgage between you and her.
If her parents gave the money to both of you, then her 50K is tax free. The first 15,075 of your 50K is tax free. The remaining amount of 34,925 is taxable at a rate of 33%. Therefore they have cost you 11,641.66.
As others have said I would check with the revenue commissioners to be on the safe side. You can ring them and they will advise you.
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