Passenger57
Registered User
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Hi,
I have a question on logistics of gifting cash to my parents.
If my current understanding is correct my parents fall into Group B for CAT threshold which is 32500 Euro per parent?
My parents have a joint bank account, can I transfer 65000 Euro to this account with both of them claiming their respective life time gift exemption?
Is there any difference on doing the above or is it easier from a reporting perspective to transfer the respective amounts into individual bank accounts?
Appreciate any advice/guidance on the above
I have a question on logistics of gifting cash to my parents.
If my current understanding is correct my parents fall into Group B for CAT threshold which is 32500 Euro per parent?
My parents have a joint bank account, can I transfer 65000 Euro to this account with both of them claiming their respective life time gift exemption?
Is there any difference on doing the above or is it easier from a reporting perspective to transfer the respective amounts into individual bank accounts?
Appreciate any advice/guidance on the above