Thanks, I see that now on citizensinformation.ie. Maybe they just have to hope that the government makes remedial changes to its proposed civil partnership legislation.As far as i know, the €52 threshold is a once-off exemption - a brother can't give €52k a year to the other brother without CAT implications.
Thanks, that's what I'm after. [broken link removed] seems like it would apply in this case.If the house was left in a will then the non-owning brother could claim dwelling house relief and take tax free.
Yes, I'd be concerned that the application dwelling-house exemption may be somewhat arbitrary. And yes, let's keep this out of Letting Off Steam.I notice the ruling says "may" - there's always wriggle room with this type of ruling! . . . Maybe I'm wrong but given the inheritance concerns of same sex couples, this rule seems to give protection to such couples provided they have lived together for 3 years? . . . That's a can of worms I have no wish to open or debate.
116.— (1) Section 86 of the Principal Act is amended by inserting the following after subsection (3):
“(3A) For the purposes of subsection (3)(a), in the case of a gift―
(a) any period during which a donee occupied a dwelling house that was, during that period, the disponer’s only or main residence, shall be treated as not being a period during which the donee occupied the dwelling house unless the disponer is compelled, by reason of old age or infirmity, to depend on the services of the donee for that period,
(b) where paragraph (a)(i) of subsection (3) applies, the dwelling house referred to in that paragraph is required to be owned by the disponer during the 3 year period referred to in that paragraph, and
(c) where paragraph (a)(ii) of subsection (3) applies, either the dwelling house or the other property referred to in that paragraph is required to be owned by the disponer during the 3 year period referred to in that paragraph.”.
(2) This section applies to gifts taken on or after 20 February 2007.
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