In general, a gift from one individual to another may result in either Capital Acquisitions Tax (CAT) at 33% falling due, or a reduction in the recipient’s lifetime tax free threshold.
However, CAT legislation allows for an exemption from tax for the first €3,000 of any gift given by one individual to another, per year. Read more
Dwelling House Relief allows for a residential property to be passed to an individual free of Capital Acquisitions Tax (CAT), once certain conditions have been met.
Due to this relief being “used in a manner that was outside the original intention”, The Minister for Finance proposed a number of changes in the last budget, which were signed into law on the 25th December 2016.