I want to gift cash to my brother who is going through a financial struggle.
He has never got such a gift from anyone before.
What is the maximum I can gift him in cash without paying tax?
correct, assuming the currency is Euro. Keep in mind that the first 3k is exempt. its only amounts in excess of this amount that will erode the 32.5k threshold. So if you give him 10k.
Market Value: 10k
SGE: 3k
Taxable gift: 7k
Group B Threshold: 32.5k
Prior Gifts from B: Nil
Taxable gift: Nil
Remaining Threshold B: 25.5k
And if you’re both married/in long-term relationships, the first €12,000 would be exempt on the basis that you and your partner could each gift €3,000 to him and to his partner.