Cash gift, is it covered under the Small Gift Exemption?

Wilder24

New Member
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2
My boyfriend gave me a cash gift of 1500 euro. I'm on one parent family and carers. I didn't ask for it but he wanted to treat me for anniversary. Am I entitled to this or will I have to declare it? Social looking for my accounts on review. To add I've only 2k in savings at most.

Does it come under the 3k tax free gift allowance allowed if I'm on social welfare?
 
Am I entitled to this
Yes.
or will I have to declare it?
To Revenue for tax purposes, no unless it and previous gifts brings you up to 80%+ of the group C exemption threshold.
To Social Welfare for means testing purposes, I guess so if they ask or your required to tell them about a change in financial circumstances.
But I doubt that €1,500 is going to have any material relevance in most cases?
Social looking for my accounts on review.
Are you saying that they are doing this at the moment?
Does it come under the 3k tax free gift allowance allowed if I'm on social welfare?
Yes, see the link above regarding the tax issues.
 
Yes it so happened they are looking into all my bank institutions. It so happened I was gifted 1500 but I would think I'm allowed get a gift of that? It was only once. And usually I never have money in an account.
 
You are allowed an amount of savings (20,000 euro) before your SW payment would be affected.
They may query where the money came from, but the amount itself won't affect you.