Hi gurus,
I have a question I hope you can answer to:
I had a join long term deposit account with my finance on which we put both savings for our weeding. The account has been increasing every year with our incomes from a join account where we lodge our wages until we had 50k.
We are now married for 6 years... we married abroad but we never register on the revenue (we didn't know we had to).
Last week we split the money into 2 accounts, each on its sole name, one with 40k and the other with 10k.
Is there any worry that the GIFT tax will apply if the account was not evenly split?
Regards,
V.
I have a question I hope you can answer to:
I had a join long term deposit account with my finance on which we put both savings for our weeding. The account has been increasing every year with our incomes from a join account where we lodge our wages until we had 50k.
We are now married for 6 years... we married abroad but we never register on the revenue (we didn't know we had to).
Last week we split the money into 2 accounts, each on its sole name, one with 40k and the other with 10k.
Is there any worry that the GIFT tax will apply if the account was not evenly split?
Regards,
V.