Notary Public & Commissioner for Oaths

1

If I donate a property to my son, what taxes are due by both of us?

When a parent donates property to a child, no tax is due by the parent.

On the other hand, stamp duty could be due by the child. However, when the property is donated for residential purposes and it is the first donation between parent and child, no stamp duty is paid on the first €200,000. If the value of the property is higher, stamp duty is then due over such additional value at the rate of 3.5%.

 

 

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