Capital Acquisitions Tax / Gift Tax legislation allows for an exemption from Gift Tax for the first €3,000 of any gift taken by a beneficiary from any one ‘donor’. This means that a beneficiary can receive up to €3,000 tax-free in any one year from any donor (e.g. parent, grandparent), or multiple donors, and this gift will not impact on their appropriate Group tax-free threshold. A key element of this is that the ownership of the money comprising the gift has to clearly pass to the beneficiary – i.e. into a bank account or savings plan in the beneficiary’s name.  Click here to read the full article…