Your personal finance questions – How do I save on taxes by helping children buy a house?

QI recently received my tax-free lump sum from my pension. I want to give some of this to my kids to help them buy a house. What is the best way to do this and are there any tax implications of giving money to an adult child? I realize you can give €3,000 tax-free per year, but I was thinking of a larger amount.

A You’re right about the €3,000 annual exemption for small gifts. You can receive a gift of up to €3,000 from anyone in any calendar year without having to pay Capital Acquisitions Tax (CAT).

https://www.independent.ie/business/personal-finance/your-personal-finance-questions-how-do-i-minimise-tax-when-giving-children-help-to-buy-a-house-41878090.html Your personal finance questions – How do I save on taxes by helping children buy a house?

Fry Electronics Team

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