Hi GreenV could be totally wrong but can you not claim medical expenses back at only 20%.MIL will shortly be going into a nursing home and has been approved for the Fair Deal scheme - Her weekly contribution will be around 600 Euro a week and her savings will probably cover close to 3 years of care but certainly no more. If we pay the nursing home costs on her behalf we can then claim 40% relief but the question I have then is if there is a problem with my MIL giving us a "gift" of that money rather then her paying directly herself. At no stage would we come close to the €330K CAT gift limit.
You could be right - I was getting 40% from here. Not sure as just starting to look at thisHi GreenV could be totally wrong but can you not claim medical expenses back at only 20%.
I could be totally wrong?
Nursing home expenses still claimable at marginal rate.Hi GreenV could be totally wrong but can you not claim medical expenses back at only 20%.
I could be totally wrong?
Yes I get that .. but other than the CAT limit there is nothing from a tax point of view stopping the elderly parent gifting money to a child. How the child spends it is up to them.No, the beneficiary cannot reimburse the money to the actual payer.
Thanks for the replies, to be honest I have no idea what "look with interest" means as surely everything has to be based off law etc.
If the gift was paid first, say a month earlier and the fees next, would that make any difference?
If the gift was paid first, say a month earlier and the fees next, would that make any difference?
Yes:My query is: If I pay her NH portion of the fees I can claim tax relief on the contribution.
If you are paying the charges for a nursing home you can claim the tax relief whether you are in the nursing home yourself or you are paying for another person to be there.
No. Capital Acquisitions Tax will be your only potential liability here.What happens then when I ultimately come to inherit her home and and savings remaining , am I liable to repay any tax relief received from her estate?
I must confess I can't make head nor tail of your question.My query is: If I pay her NH portion of the fees I can claim tax relief on the contribution. What happens then when I ultimately come to inherit her home and and savings remaining , am I liable to repay any tax relief received from her estate?
I took it as asking if any tax relief obtained in respect of the payment of the nursing home fees might be clawed back at the time of inheritance?I must confess I can't make head nor tail of your question.
Sorry to hear that. May She Rest In Peace.Yes, that is what I was asking Clubman.
It's immaterial now my mum passed away. RIP
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