Credit for Capital Gains Tax (CGT) If CGT and CAT (aka Gift tax) are due on the same event and on the same property, you may be entitled to a tax credit. The CAT payable by the beneficiary may be more or less than the CGT paid by the disponer. This is because the methods for…
How do you calculate inheritance or gift tax (aka CAT or capital acquisitions tax) ? The amount of CAT you pay on a gift or inheritance depends on: its value your relationship to the person who gave it to you whether you have received other gifts or inheritances. You do not have to pay tax on…
CAT group Thresholds You do not have to pay tax on a gift or inheritance if its value is below a particular group threshold. The threshold you use depends on your relationship to the person who gave you the gift or inheritance. You must pay tax on any remaining value above that threshold. There are…
