I wish to transfer a monetary gift to my brother and his children who live in Canada.
As far as I can establish there is an exemption of €32,500 per individual for my brother and each of his children and once the amount is below that limit there is no tax liability under Irish tax law. Canada has no gift tax whatsoever.
All I need to do is simply transfer the money!
Is this correct??
thanks in advance for any advice received.
As far as I can establish there is an exemption of €32,500 per individual for my brother and each of his children and once the amount is below that limit there is no tax liability under Irish tax law. Canada has no gift tax whatsoever.
All I need to do is simply transfer the money!
Is this correct??
thanks in advance for any advice received.