O Orbit Registered User Messages 16 9 May 2015 #1 Farm land is jointly owned (50:50) by a husband and wife. If they transfer this land to their son, is his CAT threshold €225,000 from each patent i.e a total of €450,000 ?
Farm land is jointly owned (50:50) by a husband and wife. If they transfer this land to their son, is his CAT threshold €225,000 from each patent i.e a total of €450,000 ?
R rob oyle Registered User Messages 734 9 May 2015 #2 Unfortunately not... €225k from one's parents, not €225k from each.
G Gordon Gekko Registered User Messages 7,936 9 May 2015 #3 Is there scope for the son to claim agricultural relief?
S Steven Barrett Registered User Messages 5,426 10 May 2015 #4 There is relief where the value of the land is reduced by 90% under certain conditions. http://www.revenue.ie/en/tax/cat/leaflets/cat5.html#section1 Steven http://www.bluewaterfp.ie (www.bluewaterfp.ie)
There is relief where the value of the land is reduced by 90% under certain conditions. http://www.revenue.ie/en/tax/cat/leaflets/cat5.html#section1 Steven http://www.bluewaterfp.ie (www.bluewaterfp.ie)