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Tax on House

Fondu · 2010-03-11 16:33:51

I have come into some property and i was wondering is this aloud. lets say i have to pay tax on a house costing say around 10k My parents live in my house. Instead of gifting me 10k as a present,am i aloud charge them rent per month,therefore getting around the 25% gift tax.If so are you aloud charge them rent in one big…

11-03-2010 5:33pm

#1

Fondu

Registered Users Posts: 76 ✭✭

Join Date: July 2008

Posts: 49

I have come into some property and i was wondering is this aloud.

lets say i have to pay tax on a house costing say around 10k
My parents live in my house.
Instead of gifting me 10k as a present,am i aloud charge them rent per month,therefore getting around the 25% gift tax.If so are you aloud charge them rent in one big lump instead of a ongoing basis per year.

Since im still young and not earning enough,i wouldnt be taxed at all.

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Comments

#2 11-03-2010 6:24pm

Mr. Incognito

Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭

Join Date: March 2007

Posts: 9552

Property threads are locked as a rule here- please read the charter.

Seek competent professional advice.

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This discussion has been closed.