The €495,000 threshold for gifts from parent to child applies if the roles are reversed.
Only where it is taken on the death of a disponer.
Go on, then, enlighten me.
If your mother is a dependent-relative and she is not paying rent to you then there will be no CGT liability when the house is eventually sold. (My Mum lives in my previous house but the mortgage etc is under my name. The CGT situation was confirmed to me by revenue)
If your mother is a dependent-relative and she is not paying rent to you then there will be no CGT liability when the house is eventually sold. (My Mum lives in my previous house but the mortgage etc is under my name. The CGT situation was confirmed to me by revenue)
Yes...they quoted a section of some revenue act. I'll try to dig it up. I was very hesitant in believing them also but the revenue guy was adamant (he was an expert in CGT who contacted me by phone following my initial inquiries). However...I defintely do suggest you contact them yourselves for your own piece of mind.Did they give you reference to this? I am in the same position and would like to know for sure.
My badly scribbled notes state " Tax Consolidation Act, Section 604 (?), Subsection 11 "...or something like that !Yes...they quoted a section of some revenue act. I'll try to dig it up. I was very hesitant in believing them also but the revenue guy was adamant (he was an expert in CGT who contacted me by phone following my initial inquiries). However...I defintely do suggest you contact them yourselves for your own piece of mind.
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