Money gift to parent

[Elizabethmary]

As an adult daughter living with my mother and paying my keep, can I contribute towards or pay for necessary improvements to the house where we both live without my mother incurring gift tax? For example if a central heating boiler needs to be replaced.

 

[Gordon Gekko]

As an adult daughter living with my mother and paying my keep, can I contribute towards or pay for necessary improvements to the house where we both live without my mother incurring gift tax? For example if a central heating boiler needs to be replaced.

The first €3k per year of gifts to your mother is ignored.

She also has a €33,500 threshold for gifts from the Group B cohort.

In theory, Revenue could take a look at your living arrangements, depending on what “paying your keep” looks like.

But in reality, Revenue would have no interest in either issue.

 

[Steven Barrett]

The first €3k per year of gifts to your mother is ignored.

She also has a €33,500 threshold for gifts from the Group B cohort.

In theory, Revenue could take a look at your living arrangements, depending on what “paying your keep” looks like.

But in reality, Revenue would have no interest in either issue.

This.

If you live with your mother, the revenue is not going to look at who paid for the boiler or who paid for the bathroom to be redone. Look at all the weddings that are paid for, deposits for houses, cars that are bought for kids. You never hear about the revenue coming after these people, especially on the house deposit one, where the money can be significant.