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Annual Gift Exemption Of €3,000

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Did you know?

You can gift up to €3,000 tax free in any one year to your child, grandchild or anyone

else, or even multiple persons and this gift will not impact on the recipient’s

appropriate group tax free threshold for CAT purposes.


How can they you do this?

The key here is that the recipient/beneficiary must get ownership of the money and

the person gifting the money loses control of it, therefore how the plan is set up will

depend on how old the recipient is.


Our client experiences.

We recently received an enquiry from a client to arrange five savings plans for

grandchildren to avail of the Annual Gift Exemption. You may receive a gift up to the

value of €3,000 from any person in a calendar year without having to pay Capital

Acquisitions Tax (CAT). This means that you make take a gift from several people in

the same calendar year and the first €3,000 from each disponer is exempt from CAT.

Gifts within this limit are not considered in computing tax and are not included for

aggregation purposes. This small gift exemption applies only to gifts and not to

inheritances. Quigley Financial Brokers arranged the policies with a AAA rated

company.


The example included is for guidance purposes only and is not based on any real individual circumstances and should not be constituted as advice in any particular instance.

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Reach out today Contact us today and book your consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information.

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