Small Gift Exemption
You may receive a gift up to the value of €3,000 from any person in any calendar year without having to pay Capital Acquisitions Tax (CAT).
This means that you may take a gift from several people in the same calendar year and the first €3,000 from each person giving the gift is exempt from CAT.
This small gift exemption applies only to gifts and not to inheritances.
Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie
