# wedding gift tax liability?



## marymooney (25 Jun 2015)

Hi there

I am to be married soon. My mother is kindly paying for the wedding (15,000) and the inlaws are matching that in cash which we intend to put in our mortgage account.
Are we liable for gift tax?
The inlaws will likely deposit the money via bank transfer. They are doing this as they paid for their daughters' weddings so want to give the sons the same.


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## Joe_90 (25 Jun 2015)

The payment for your wedding by a parent is not deemed to be a taxable gift.

The gift of €15k by your in laws to yourself and your future husband is a taxable gift and should be aggregated with other taxable gifts after the annual small gift exemption.

 Of course they could be paying for his wedding in which case it would not be taxable!!!


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## orka (26 Jun 2015)

On the small gifts exemption, each of your in-laws can gift each of you 3,000 each year (FIL to you, FIL to fiance, MIL to you, MIL to fiance).  So they can give you 12K each year and have it classed as the small gift exemption.  So 12K this year and delay the remaining 3K to next year and there is no tax now and no impact on future gift/inheritance tax.


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## marymooney (27 Jun 2015)

Thanks all. We have been told we can take the money and it will reduce the threshold for lifetime gift of 225,000 which we are happy to take the hit on down the line.


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## Joe_90 (27 Jun 2015)

As Orka has summarised if both your PIL are alive then the exposure is only to €3,000.


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## shelley levine (28 Jun 2015)

Would that every citizen was as conscientious !


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## trg (31 Jul 2015)

Joe_90 said:


> The payment for your wedding by a parent is not deemed to be a taxable gift



This really true? Genuinely never heard of it. Not doubting you but is it in legislation?


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## 44brendan (31 Jul 2015)

http://www.independent.ie/irish-new...ays-parents-can-still-foot-bill-30867270.html


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## noproblem (31 Jul 2015)

Maybe I'm wrong or whatever but I've never known anyone to declare anything they get as a wedding present to the revenue. I'm not advocating tax avoidance or suchlike, but in my simple mind this is ridiculous.


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## Joe_90 (31 Jul 2015)

noproblem said:


> Maybe I'm wrong or whatever but I've never known anyone to declare anything they get as a wedding present to the revenue. I'm not advocating tax avoidance or suchlike, but in my simple mind this is ridiculous.



I would agree but due to general abuse of the "maintenance of a child" exemption Revenue issued guidance saying that the payment for a wedding is not a gift but a Porsche 911 as a wedding present is a taxable gift.


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