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@yichi0439:
YICHI
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Region: KH
Wednesday 18 December 2024 05:20:18 GMT
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。不饿也 、🐣 :
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2024-12-30 02:34:29
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❤️🩷💖🚭🇰🇭 :
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2025-01-03 14:38:02
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Most people think gifting property to a child means dealing with one tax bill. It often means two. Everyone talks about gift tax at 33%. It understandably gets all the attention. Your child can currently receive up to €400,000 from a parent before gift tax applies, with tax charged on the excess. Compare that with jurisdictions offering much more generous lifetime transfers, and it's easy to see why Irish families focus on gift tax. But here's what many people miss. When you give away property, Revenue generally treats you as if you sold it at full market value, even though you didn't receive a cent. If the property has increased in value, you can face a Capital Gains Tax bill at 33%. That's the hidden tax that catches families by surprise. There are reliefs that can reduce or eliminate that liability, but they only apply where strict conditions are met. Many people assume they'll qualify, only to discover they don't. If you're thinking about transferring a farm, a family home, investment property or company shares, don't focus on your child's tax bill alone. Make sure you understand yours as well. Visit the link in my bio or go to taxunwrapped.ie. And don't forget, we advise and implement.
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