File Ros if below 80% Threshold Gift

M

mouse2

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If I receive a gift of property from my brother which is below 80% threshold of €30,150 do I now have to file the details on Ros, as I was reading below on the Revenue website and am not sure now?

Also if I receive property from my spouse do I file it on Ros?


Where the criteria for use of the "Short Form IT38" below do not apply, e.g. where reliefs/exemptions/credits etc. are claimed, the Gift or Inheritance Tax return must be filed electronically through ROS.
 
No issue between spouses

As you are not "..where reliefs/exemptions/credits etc. are claimed" by just using the threshold and are less than the 80% then no issue either as the threshold is not a reliefs/exemptions/credits etc.
 
OP, just be aware that the threshold amount is a lifetime limit on all gifts/inheritances taken from donors in that category.

So it's not just the current gift from your brother, if he, or any other sibling, had given you 20k previously, then they need to be aggregated.
 
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