What are the tax implications of this scenario?
Two siblings - both 40 years old - neither incapacitated - both resident and domiciled in Ireland - set up a joint bank account.
Sibling A deposits €1,000 each month.
Sibling B spends €1,000 each month using their bank card for this account / their utility bills are paid by DD from this account / ect.
This arrangement lasts for 10 years.
Thanks.
Two siblings - both 40 years old - neither incapacitated - both resident and domiciled in Ireland - set up a joint bank account.
Sibling A deposits €1,000 each month.
Sibling B spends €1,000 each month using their bank card for this account / their utility bills are paid by DD from this account / ect.
This arrangement lasts for 10 years.
Thanks.