The Horseman
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You can't purchase a property until you turn 18 at which point you are an adult and you can't adopt an adult.Surely the logical solution here is for that parent to adopt that particular child before giving him or her that €400K?
Or am I missing something
you can't adopt an adult.
This is an American site. Is there an Irish version?Or you do it before they're 18. No brainer really - if you think about it.
Why not just abolish the CAT group differentiation and set a blanket threshold at €500k?
Surely the logical solution here is for that parent to adopt that particular child before giving him or her that €400K?
Or marry them?
It will always seem like that if you come at the problem from the logically flawed perspective that CAT is related to the person giving money.unfairly penalised for being childless for whatever reason.
You would genuinely have situations where a rich childless uncle would die. Give it to their nephew using up their allowance. The parents of that nephew would then be apoplectic that they had nobody to give €500k to tax free when they died.Why not just abolish the CAT group differentiation and set a blanket threshold at €500k?
What if the parents of your nieces and nephews are poor?CAT allowances are for the receiver of the money. The only people ‘discriminated against’ are the children of poor parents.
I don’t believe the taxation system has a compelling need to tilt the tables in favour of those with poor parents but rich uncles/aunts against those who have poor both.These nieces and nephews are being discriminated against simply by not being your child.
and you know what they say about love. “It is best measured by how much money you are able to give to a person without them receiving a tax bill’Sometimes nieces and nephews are held and loved as a childless person would have loved their own child had they have had any.
On the contrary, I am the wealthy childless uncle.@The Horseman I don't suppose you have wealthy relatives that aren't your parents, by any chance.
This was the point missed by Barra Roantree in the interview quoted by Brendan that relit this thread - IIRC, he suggested an equal inheritance allowance for everyone would mean some people being able to claim a full allowance from a parent while also being able to avail of a full allowance as a child also (effectively equating the allowances for Category A, B & C but keep them in situ to be utilised independently of one another). A single inheritance allowance for all is surely equality for all, no, and much simpler to administer?Why not just abolish the CAT group differentiation and set a blanket threshold at €500k?
Well you had better get busy using up the 3 grand a year tax free... if you really want to spread it around I can PM you my IBANOn the contrary, I am the wealthy childless uncle
+1if you really want to spread it around I can PM you my IBAN
I do. And especially when I'm not buying something because I can no longer obtain it as easily as I once could.Do you get extremely exercised by the marginal income tax rate of a shop owner when you buy something?
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