O oaky7 Guest 26 Oct 2004 #1 i recently sold land and received over 200k i have paid the cgt on it and now want to gift the remainder to my father to pay off a large bank loan can anyone tell me am i liable to pay gift tax or am i excempt as it is a parent..
i recently sold land and received over 200k i have paid the cgt on it and now want to gift the remainder to my father to pay off a large bank loan can anyone tell me am i liable to pay gift tax or am i excempt as it is a parent..
G Guest Guest 26 Oct 2004 #2 See here for information on Gift Tax (Capital Acquisitions Tax) exemption limits for intra family gifts: [broken link removed] [broken link removed]
See here for information on Gift Tax (Capital Acquisitions Tax) exemption limits for intra family gifts: [broken link removed] [broken link removed]