M
mickybob
Guest
An aunt of mine wants to sign over her house to me. Can anyone tell me where i would stand from a tax point of view? Would it come under gift tax or inheiritance tax or some other? Also what other costs would be involved?
If you intend living in the house, then she should not gift it to you for three years. At that stage, you will be exempt from Capital Acquisitions Tax.
However, if she has to pay Capital Gains Tax now, this might not be much of a saving as you can allow the CAT against the CGT.
Brendan