We have a three-bedroomed semi-detached property which we have rented out for the past 18 years. The lease to the most recent tenants has now expired and we have decided to allow our son and his girlfriend move into the house.
This is covered in today's Irish Times. https://www.irishtimes.com/business/personal-finance/how-does-revenue-view-adults-living-rent-free-in-parents-property-1.4543367 The [broken link removed] tightened the rules and now the only support parents are allowed offer adult children tax-free is...
Can anyone advise if there are tax implications if the beneficiary of a will has lived rent free in the house for a number of years? In this case the property was left in equal share to a number of family members. However one of them who was not working or claiming social welfare lived in the...
Hi Folks Take this scenario, nephew and his partner are living rent free in his aunts home since jan 2019, rental yield would be approx 2500 per month thus giving rise to tax, to note nephews gift tax threshold has been exhausted however his partner has never received a gift from her partners...
Hi folks A little dilemna and looking for thoughts on scenario below Aunty very ill in nursing home, will not be returning home, aunties house is lying idle and lately falling into disrepair, graffiti appearing on front wall of house etc so serious concerns about break in/vandalism, aunty has...
Hi Folks, Take this scenario, an uncle is in hospital in very poor health, will be unable to return to his only home and will be going into full time care, uncle has no children but has nephews, one nephew had been staying with uncle on occasion and helping with affairs as he was getting on...