I wish to transfer a monetary gift to my brother and his children who live in Canada.
As far as I can establish there is an exemption of €32,500 per individual for my brother and each of his children and once the amount is below that limit there is no tax liability under Irish tax law. Canada has no gift tax whatsoever.
As far as I can establish there is an exemption of €32,500 per individual for my brother and each of his children and once the amount is below that limit there is no tax liability under Irish tax law.
Taken from paragraph 1.2 of the Revenue Commissioner's CAT guide:
Where, at the date of the gift or inheritance, either the disponer or the beneficiary is resident or ordinarily resident in Ireland, worldwide assets comprised in a gift or inheritance are liable to Irish CAT.
If neither the disponer nor the beneficiary is resident or ordinarily resident in Ireland, at the date of the gift or inheritance, CAT will apply to assets situate in the State only.