he bought the house for 219,000 and lived in it for 2 years, we agreed on that as we both think it is a fair price (he is doing me a big favour)
Would he not be able to gift me €30,150 as i fall in category B on the gift tax table, and gift fiancee €15,075 as she falls under cathegory c in the table ?
I have read that if the gift is not more than 80% of the gift threshold that it wouldnt have to be declared so
275,000
-240,000
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35,000 (gift)
- 24,120 80% of threshold for me
- 8,120 80% of threshold for fiancee
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- 2,760 that leaves us coming in under the 80% treshold that has to be declared ?
would i be correct in this assumption ?