Gift of parents garden

W

Wicklow

Registered User
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My parents are willing to sign over their garden to me so as to allow me to build a house. Can anyone advise on what the tax implications will be for me or am i allowed a certain amount as a tax free gift?
 
If this is the first such gift of land from your parents and you intend to build your PPR, then it may come under a current exemption for land valued less than 254000, where it is exempt from stamp duty,and CGT for your parents. If it is the first gift from your parents then it should also be free from CAT. Therefore no immediate tax implications for you.
 
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