mickoneill30
Registered User
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- 48
We're in the process of buying a house from my parents.
They plan to gift us a certain amount of the house and we'll get a mortgage for the rest. I know a parent can give a gift to a child and they won't have to pay tax up until over €400K.
The amount isn't that much but as the gift is to us both (the house is between me and my wife) what are the tax implications for us as my wife will also be a beneficiary?
I had a look on revenue.ie but it only mentions parent -> child. There's no mention of parent -> child and his other half.
They plan to gift us a certain amount of the house and we'll get a mortgage for the rest. I know a parent can give a gift to a child and they won't have to pay tax up until over €400K.
The amount isn't that much but as the gift is to us both (the house is between me and my wife) what are the tax implications for us as my wife will also be a beneficiary?
I had a look on revenue.ie but it only mentions parent -> child. There's no mention of parent -> child and his other half.