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Capital Acquisitions Tax (CAT) takes a chunk of the gifts and inheritance that is due to your loved ones. With the inheritance tax, the amount is payable after the person giving it has passed on. For the gift tax, this amount is payable while the person giving the gift is still alive. How Much Gift Tax Will I Pay? To estimate the tax amount, first determine what the asset will be worth. This can be anything from property, cars, jewellery, to savings and investment funds. If it is under the threshold indicated below, then it is tax-free. The amount above the threshold is taxed 33%. These thresholds vary among different groups: 1. Group A CAT threshold: €335,000 Here you have the children of the individual giving the gift, a.k.a the disponer. It also includes foster children under certain terms, or a minor son or daughter of the deceased child of the disponer. Parents taking an absolute inheritance from their child also fall in this category. 2. Group B CAT threshold: €32,500 This group includes some relatives of the disponer, specifically the siblings, grandparents or grandchildren, nieces and nephews, plus any lineal ancestor or descendant of the disponer. 3. Group C CAT threshold: €16,250 Anyone with a relationship with the disponer that has not been covered by Groups A or B. Note: Gifts from a spouse or civil partner are exempt from the capital acquisitions tax. Example If you gift your child a €500,000 asset, then: - Untaxed amount: €335,000 - Amount liable for tax: €165,000 Tax owed: 33% of €165,000, which is €54,450 Next problem: Liquidity Unless your child has €54,450 in cash or bank, then the asset will need to be liquidated, selling it off. They'll then settle the gift tax bill, and remain with the balance. Or you could simply take an insurance policy under the provisions of the Section 73 CAT Consolidation Act, which pays out the gift tax. Here, the cash value of the savings plan, or combined life and savings plan, is used to pay taxes owed on gifts during your lifetime. Qualifying for the Section 73 relief allows your beneficiary to enjoy the full amount, asset or cash-equivalent, tax-free. Reach out today Contact us today alternatively 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.

Can you use your pension to invest in property? Yes – and it comes with plenty of benefits too: Steady, long-term income Dublin property values are on the uptrend, and so are the rent levels. House prices alone spiked 13% in 12 months according to Daft.ie’s Q2 2021 report. You can go with residential, commercial, industrial properties or a combination of the categories which are held in the syndicated funds. Ring-fence your profits - No tax on contributions That way you have more funds to invest with as you choose your desired property. - No tax on rental income Meaning you get more bang for your buck. - Want to sell? No capital gains tax too When you choose to liquidate the pension property, the fund will not be required to pay the capital gains tax (CGT). How much are you saving? With the current CGT set at 33%, that's a lot of profits that you get to retain when the transaction is made. Lump Sum upon retirement Once you retire, you can take 25% of the pension funds value as a lump sum. Another tax benefit awaits here: €200,000 of this lump sum is not taxed. Issues to take note of What are the drawbacks? Like any other investment, there is a catch to it. With a relatively high sum required for the minimum entry-level, investing in it may require a significant chunk of your pension fund. The property also comes with operational costs such as insurance premiums and routine maintenance. Finally, as is with all property investments, this is an illiquid asset, so you can't just wake up one random morning and expect a cash equivalent of the property value. However, given that it is in your pension and the fund cannot be accessed until you reach retirement, then, the property investment comes off as a lucrative and safer route to park your capital. Reach out today Contact us today alternatively 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.

When it comes to design, the Wix blog has everything you need to create beautiful posts that will grab your reader's attention. Check out our essential design features. Choose from 8 stunning layouts Your Wix Blog comes with 8 beautiful layouts. From your blog's settings, choose the layout that’s right for you. For example, a tiled layout is popular for helping visitors discover more posts that interest them. Or, choose a classic single column layout that lets readers scroll down and see your post topics one by one. Every layout comes with the latest social features built in. Readers can easily share posts on social networks like Facebook and Twitter and view how many people have liked a post, made comments and more. Add media to your posts When creating your posts you can: Upload images or GIFs Embed videos and music Create galleries to showcase a media collection Customize the look of your media by making it widescreen or small and easily align media inside your posts. Hashtag your posts Love to #hashtag? Good news! You can add tags (#vacation #dream #summer) throughout your posts to reach more people. Why hashtag? People can use your hashtags to search through content on your blog and find the content that matters to them. So go ahead and #hashtag away!

With Wix Blog, you’re not only sharing your voice with the world, you can also grow an active online community. That’s why the Wix blog comes with a built-in members area - so that readers can easily sign easily up to become members of your blog. What can members do? Members can follow each other, write and reply to comments and receive blog notifications. Each member gets their own personal profile page that they can customize. Tip: You can make any member of your blog a writer so they can write posts for your blog. Adding multiple writers is a great way to grow your content and keep it fresh and diversified. Here’s how to do it: Head to your Member’s Page Search for the member you want to make a writer Click on the member’s profile Click the 3 dot icon ( ⠇) on the Follow button Select Set as Writer

We’ve made it quick and convenient for you to manage your blog from anywhere. In this blog post we’ll share the ways you can post to your Wix Blog. Blogging from Your Wix Blog Dashboard On the dashboard, you have everything you need to manage your blog in one place. You can create new posts, set categories and more. To head to your Dashboard, open the Wix Editor and click on Blog > Posts. Blogging from Your Published Site Did you know that you can blog right from your published website? After you publish your site, go to your website’s URL and login with your Wix account. There you can write and edit posts, manage comments, pin posts and more! Just click on the 3 dot icon ( ⠇) to see all the things you can do. #bloggingtips #WixBlog