Can I reduce my CAT liability if I gift money to non family members?

[RiskAverseGuy]

If I receive a significant cash gift and am subject to CAT as I've already exceeded my CAT group threshold, can I reduce my own tax liability on this year's CAT due if I regift some of that money to a non family member from the gross gift amount? (Say a gift of €3000 small gift exemption to give to a friend?). I'm aware that parents who receive cash gifts can regift some of that money to children to reduce their own CAT liability. Does that apply with regifting to a Group C non blood relative?

I can't see anywhere online that spells this out so appreciate any advice. Thanks!

 

[T McGibney]

If I receive a significant cash gift and am subject to CAT as I've already exceeded my CAT group threshold, can I reduce my own tax liability on this year's CAT due if I regift some of that money to a non family member feom the gross gift amount?

No.

I'm aware that parents who receive cash gifts can regift some of that money to children to reduce their own CAT liability.

This isn't true.

 

[ClubMan]

I'm aware that parents who receive cash gifts can regift some of that money to children to reduce their own CAT liability.

As @T McGibney says above, this is not true...

How do you calculate CAT?

This page describes how to calculate CAT.

www.revenue.ie

Gift splitting​

If a gift is passed on to someone in a different group within three years of when it was received it is called gift splitting. Gift splitting affects the threshold used.

 

[RiskAverseGuy]

Thanks for quick response and clarity also on regifting to children. Must have gotten my wires crossed on that one!