Re: house as gift - gift tax/cat/stamp duty???
cbj05:
Couple of aspects, and I dont think I have all the information:
1. Gift from your Dad to husband would have CAT implications.
2. Gift from your Dad to you has CAT implications, not on THIS gift, but on any others you might get.
3. Gift from you to husband has no CAT implications.
[4. There are always pitfalls with how you structure transactions with Revenue].
5. Was this house ever your parents Principal residence?
6. There are deductions available for this property depending on when it was acquired; whether it was ever a principal private residence; on any capital costs.
7. Being creative, would there be a possibility of looking at the reliefs of the parental house and occupying that... dont have enough time to look at this immediately.
I would, given what I have read get a tax adviser in on this. Sometimes Revnue officila may help. But the problem with executing these things is a regret criteria afterwards.