I believe that you have the right idea. The parents still have the option of using up the balance to 310000 as well as 3000 each gift annually but then everything else will be taxed at 33% if given in a will.Brendan if i was to gift son 200k does that not affect future threshold for inheritance of 310k? Are I miss understanding it all. Thanks.
Brendan if i was to gift son 200k does that not affect future threshold for inheritance of 310k?
Let's say he wants to spend €400k on an apartment.
A lender might give him €100k.
So he is short €200k.
If you give him €200k , the bank will require that it be a gift rather than a loan. While there would be no tax implications of giving a gift of this amount to him, returning a gift could well involve a CAT payment.
SNIP Brendan
the parents could, in theory, write-off
circa €11,500 of the outstanding loan on an annual basis
the accepted proxy is the prevailing call deposit rate.
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