Are there Revenue consequences if I donate shares to my immediate family members (i.e. children)

[Patrickf]

Are there revenue consequences if I donate shares to my immediate family members (i.e. children).

 

[Sarenco]

Potentially there would be gift tax payable but you would have to give us a lot more information to get a meaningful answer.

 

[jpd]

Gift tax?

Gift and Inheritance Tax (Capital Acquisitions Tax – CAT)

This page gives a general overview on CAT implications on gifts and inheritence.

www.revenue.ie

 

[Gordon Gekko]

Potentially CGT for you.

Potentially CAT for them.

Potentially Stamp Duty for them.

In certain circumstances, it may be possible to offset CGT against CAT, but only where the child’s tax-free threshold has already been used up, which would be rare enough.

 

[Patrickf]

Thanks Serenco and Gordon Gekko I should have included that one of my children is a permanent resident of Australia (with citizenship) and another permanently resident in the UK and with the remaining child (adult) resident in Rep. Ireland. I' not talking about very large transfers of ABRN shares.
Thanks,
Patrick F

 

[jpd]

if the property being gifted or the disponer is resident in Ireland then CAT is due, subject to the usual thresholds

In addition, those living broad may have tax liabilities in the country they live in

 

[Patrickf]

Thanks for all your contributions to my query

 

[deadlyduck]

It might be worth checking if 'retirement relief' could be availed of on the disposals to the children.

 

[cloughy]

It's not shares in a company connected to the contributor, more like investments they have, so retirement relief not relevant I would think