Is there any advantage in a couple giving separate gifts for CAT purposes?

[Brendan Burgess]

A married couple wants to give their son a gift of €400,000.

I presume that there is no advantage in the father giving €200,000 and the mother giving €200,000?

Once the son uses up his €225,000 threshold, the balance will be taxed at 33%.

 

[1dave123]

I'm open to correction - but only advantage I can think of is that the first 3k of a gift each year is excluded from the threshold calculations. This 3k is a per person relief. So if 400k is gifted by one parent the assessable gift is effectively 397k. If 400k is gifted by two parents the assessable gift is effectively 394k.

 

[Billo]

Is the applicable year April to Mar or Jan to Dec or......


Rgds

Billo

 

[askU]

CAT Guide - Gift-splitting