My son is a mature student and has asked me to help him with the cost of a Third Level course.
The cost of the course is 20K and the money is required to be paid half this year and half next year.
I've read the guidelines on CAT and saw that it refers to gifts for 'reasonable education costs' being exempt from CAT. But what is 'reasonable'? What would be the best way to give him this money to avoid unnecessary tax?
The cost of the course is 20K and the money is required to be paid half this year and half next year.
I've read the guidelines on CAT and saw that it refers to gifts for 'reasonable education costs' being exempt from CAT. But what is 'reasonable'? What would be the best way to give him this money to avoid unnecessary tax?