Thresholds for inheritance or gift tax.

C

Clueless

Guest
Hi there

I was wondering about inheritance.
I understand the threshold from parent to child is something along the lines of €330k.

I'm wondering however if that includes both cash and assets.

Also I'm sure the threshold will go down after next weeks budget. Does anyone know if the money/assets have to be transferred into the child's name in advance of the budget to avail of the current threshold or will a simple written agreement suffice?

Might seem like a stupid question but I really am clueless!

I should clarify that the parent is alive!

Thanks
 
Clueless said:
Hi there

I was wondering about inheritance.
I understand the threshold from parent to child is something along the lines of €330k.

I'm wondering however if that includes both cash and assets.

Also I'm sure the threshold will go down after next weeks budget. Does anyone know if the money/assets have to be transferred into the child's name in advance of the budget to avail of the current threshold or will a simple written agreement suffice?

Might seem like a stupid question but I really am clueless!

I should clarify that the parent is alive!

Thanks
Click to expand...

First off, if they're still alive it's not inheritance, it's a gift. Armed with that...

Courtesy of our good friend Google, via "Gift Tax":

www.revenue.ie/en/tax/cat/leaflets/cat1.html

Which in turn leads to:
[broken link removed]
http://www.revenue.ie/en/tax/cat/thresholds-rates-aggregation.html
 
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