Cash gift query

[Bradbury1]

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?

 

[Protocol]

Capital Acquisitions Tax (CAT) thresholds, rates and aggregation rules

This page outlines CAT thresholds, rates, and aggregation rules

www.revenue.ie

The recipient of any gift may have to pay CAT.

The donor doesn't pay CAT.

 

[Protocol]

32,500 is his limit, before CAT.

 

[Bradbury1]

Thanks for the help. And if we stay under 32.5k, does that mean neither of us have a tax payment on the gift ?

 

[Oisin19]

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

 

[Gordon Gekko]

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.

 

[cremeegg]

The €3k small gift figure is per annum so €3k in 2019 and €3k in 2020.

Plus the €32.5k in 2020.

And as GG says you could give that €3 to him, another €3k to his partner, his child etc, and your partner child etc could also give each €3k