3K gift tax free

Its not 222k or 219k.
If a son receives 3K in a calendar year from his father or mother this does not use up any of his lifetime threshold of 225K.
If a son receives 3K from his mother and 3K from his father in a calendar year this still does not use up any of his 225K lifetime threshold.
 
Would I be correct in saying that a parent can gift 3k to each of there children or any other person each year and there is no limit to the number of people that parent gifts to?
 
Yes, you can gift €3,000 to anyone each year without affecting their CAT threshold.
 
I received a gift this year of 64K from a parent and now I have being contacted by a solicitor that I am to benefit from a cousins estate. The solicitor has asked me to supply details of any past gifts as this is the only one do I tell them about it and do I report it to revenue.
 
Orbit said:
Its not 222k or 219k.
If a son receives 3K in a calendar year from his father or mother this does not use up any of his lifetime threshold of 225K.
If a son receives 3K from his mother and 3K from his father in a calendar year this still does not use up any of his 225K lifetime threshold.
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You seem to have misunderstood the question (admittedly months ago).

The child received €3k in 2013, €3k in 2014 and €225k in 2015. The child's total aggregated Group A gifts are therefore either €222k or €219k as in 2015 the first €3k or €6k is disregarded (depending on whether the gift came from one parent or both).
 
Gordon my understanding is the SGEs of €3k are not subject to aggregation on the Group Thresholds, in this case GT A which is €225k until 13.0.15. So the child's total aggregated group A is €225k, the 3k in 2013 and 2014 never come into it.
 
Learner2015 said:
Gordon my understanding is the SGEs of €3k are not subject to aggregation on the Group Thresholds, in this case GT A which is €225k until 13.0.15. So the child's total aggregated group A is €225k, the 3k in 2013 and 2014 never come into it.
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Hello.

I think that people may be confusing the threshold and aggregated prior benefits. In the poster's example, someone received €3k in 2013 and €3k in 2014. That person then received €225k in 2015. But he/she can receive a disregarded €3k in 2015 too, so his/her aggregated Group A benefit is €222k, i.e. he/she still has €3k of headroom. And if the €225k came from the Mum and the Dad, the aggregated Group A benefit is €219k, because €6k of 2015's €225k gift would be disregarded.
 
I'm puzzled Gordon Greko. I was of the belief that a son/daughter can get €3k every year tax free from mum or dad. In other words, €6k each year and no tax, nor does it interfere with any inheritance they might get in the future. What you say above looks very complicated for something I think is and should be very simple with no aggregates, group a's or b's or whatever.
 
Apart from the 3K allowance per year, a parent can gift up to 225K in cash to each of their children free of all taxes? Is this correct?
 
Just checking on Revenue inheritance rules, an unmarried individual without children can only leave 30,150 to Brother/Sister/Niece/Nephew/Grandchildren (Group B on Revenue website rules). If an individual has one sister and one niece to inherit, can both be gifted €3K per year (lodged into a trust-fund account) to accumulate tax-free?
 
May I ask if a parent gifts a child 3k on December 31 2015 can the parent give the same child another 3k on the 1st January16 ?thanks
 
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