Cash gift to help purchase house .

M

Mixednuts

Registered User
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166
Hi,

How much of a cash gift can a parent give a son or daughter to help out purchase a property before incurring tax ?

ta

M
 
A parent won't incur any tax on giving their lucky offspring any amount of money!

The offspring (depending on whether or not they have previously been gifted any gifts or received any inheritances) may receive up to €250K as per the attached details.

http://www.revenue.ie/en/tax/cat/thresholds.html

before they have to pay any tax.

mf
 
Gift from Parents

Just a quick question on this, my parents are giving us a wedding gift of 10K towards a deposit for a house, i know we need to get a letter signed by them (format of which was on this website) in case the lender asks for this, one question though is it better to get the money transferred from their account to ours, or is a cheque made out in our names to lodge to our savings account sufficient? Thanks.
 
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