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Dublin men to marry to avoid inheritance tax

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Comments

  • #352
    It wasnt me123
    Registered Users, Registered Users 2 Posts: 1,748 ✭✭✭It wasnt me123


    Could the older man not just put his house in both their names as joint tenants and then the younger man would automatically get it without paying inheritance tax? Mind you, if there are other substansive assets such as cash, shares, etc, then he would have to pay IH tax on it and as a non relative, anything above €15k would be liable for 33% IH tax.


  • #353
    Donald Trump
    Registered Users, Registered Users 2 Posts: 20,271 ✭✭✭✭Donald Trump


    Deleted User wrote: »
    Does a marriage not have to be consummated in order to be legal?

    As Confucius say:
    Up the bum. no harm done



    (Serious answer, I think that's for the Church, not legal rules)


  • #354
    Donald Trump
    Registered Users, Registered Users 2 Posts: 20,271 ✭✭✭✭Donald Trump


    Cookie_Monster wrote: »
    what benefit does straight marriage provide, I presume you're going for the producing children angle?. Well that. in the current world, is a huge disadvantage, due to the over population problem we current have...


    Ehhh, you're talking out your hoop in fairness? There are not enough children being born in Europe in general to replace current population. Average woman has 1.6 kids.


  • #355
    NewApproach
    Registered Users, Registered Users 2 Posts: 2,189 ✭✭✭NewApproach


    dxhound2005 wrote: »
    Many marriages could be for that purpose. There is no law against it, as long as the marriage is legal.

    The taxman will get his share after the two of them are dead.

    There is, there are laws which say if you do a series of things the main purpose of which is to avoid tax, they are disregarded. These guys have openly stated in the national press that the only reason they are getting married is to avoid tax. It falls squarely within our anti-avoidance rules, there's no doubt about it.


  • #356
    Ginger83
    Registered Users Posts: 3,553 ✭✭✭Ginger83


    NewApproach wrote: »
    There are laws which are in place where Revenue ignore arrangements which are put in place for the principal purpose of avoiding tax. Hard luck lads.

    All appears to be legal.


  • #357
    pitifulgod
    Registered Users Posts: 1,282 ✭✭✭pitifulgod


    NewApproach wrote: »
    There is, there are laws which say if you do a series of things the main purpose of which is to avoid tax, they are disregarded. These guys have openly stated in the national press that the only reason they are getting married is to avoid tax. It falls squarely within our anti-avoidance rules, there's no doubt about it.

    Revenue already said it won't be investigated. Basic indication is that no laws are being broken.

    https://www.independent.ie/irish-news/male-friends-wedding-to-avoid-tax-bill-will-not-be-investigated-by-revenue-36414511.html


  • #358
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


  • #359
    splinter65
    Registered Users, Registered Users 2 Posts: 9,420 ✭✭✭splinter65


    [Deleted User] wrote: »
    Not if it’s passed on to the children.

    Does a marriage not have to be consummated in order to be legal?

    How do you propose that be policed?
    Incidentally marriage between same sex couples cannot by definition be “consummated”.


  • #360
    suicide_circus
    Registered Users, Registered Users 2 Posts: 19,802 ✭✭✭✭suicide_circus


    You know what I blame this on the breakdown of? Society.


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  • #361
    splinter65
    Registered Users, Registered Users 2 Posts: 9,420 ✭✭✭splinter65


    suicide_circus wrote: »
    You know what I blame this on the breakdown of? Society.

    Useless gubbermint.


  • #362
    Princess Consuela Bananahammock
    Registered Users, Registered Users 2 Posts: 33,663 ✭✭✭✭Princess Consuela Bananahammock


    splinter65 wrote: »
    How do you propose that be policed?
    Incidentally marriage between same sex couples cannot by definition be “consummated”.

    Of course it can. Consummation just means finalised. It's consumated as soon as they sign the papers.

    Everything I don't like is either woke or fascist - possibly both - pick one.



  • #363
    josip
    Registered Users, Registered Users 2 Posts: 14,176 ✭✭✭✭josip


    Never Say Never Again wrote: »
    a bunch of indian fellas who work in my local gala shop all have wife's from east europe, that must be some sort of scam ?

    Nope, it's because there are cracking birds in Eastern Europe.


  • #364
    Annasopra
    Registered Users, Registered Users 2 Posts: 41,104 ✭✭✭✭Annasopra


    Princess Consuela Bananahammock wrote: »
    Of course it can. Consummation just means finalised. It's consumated as soon as they sign the papers.

    Consummation means the act of sexual intercourse

    It was so much easier to blame it on Them. It was bleakly depressing to think that They were Us. If it was Them, then nothing was anyone's fault. If it was us, what did that make Me? After all, I'm one of Us. I must be. I've certainly never thought of myself as one of Them. No one ever thinks of themselves as one of Them. We're always one of Us. It's Them that do the bad things.

    Terry Pratchet



  • #365
    Princess Consuela Bananahammock
    Registered Users, Registered Users 2 Posts: 33,663 ✭✭✭✭Princess Consuela Bananahammock


    Joeytheparrot wrote: »
    Consummation means the act of sexual intercourse

    No, consummation actually means finalisation. Sexual intercourse (which gay man can, of course do) is just the more traditionally accepted method of said consumation. The marriage is legally binding beforehand.

    Everything I don't like is either woke or fascist - possibly both - pick one.



  • #366
    Annasopra
    Registered Users, Registered Users 2 Posts: 41,104 ✭✭✭✭Annasopra


    Dr Brown wrote: »
    This is one of the reasons I didn't vote for same sex marriage.

    It was inevitable people would use it to avoid paying tax

    https://www.rte.ie/news/ireland/2017/1215/927697-tax-marriage/

    They could have got a civil partnership 3 years ago anyway so your reason was silly and pointless

    It was so much easier to blame it on Them. It was bleakly depressing to think that They were Us. If it was Them, then nothing was anyone's fault. If it was us, what did that make Me? After all, I'm one of Us. I must be. I've certainly never thought of myself as one of Them. No one ever thinks of themselves as one of Them. We're always one of Us. It's Them that do the bad things.

    Terry Pratchet



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  • #367
    suicide_circus
    Registered Users, Registered Users 2 Posts: 19,802 ✭✭✭✭suicide_circus


    Is it just coincidence that both grooms look like a David Norris impersonation double act?


  • #368
    Dr Brown
    Registered Users Posts: 1,283 ✭✭✭Dr Brown


    Joeytheparrot wrote: »
    They could have got a civil partnership 3 years ago anyway so your reason was silly and pointless

    I wasn't a fan of civil partnership either.


  • #369
    WinnyThePoo
    Closed Accounts Posts: 3,417 ✭✭✭WinnyThePoo


    Dr Brown wrote: »
    I wasn't a fan of civil partnership either.

    You must not be a fan of hetero marriages either so.


  • #370
    El Horseboxo
    Registered Users, Registered Users 2 Posts: 5,341 ✭✭✭El Horseboxo


    Is it just as simple as being married and bam, you avoid inheritance tax? Are there not conditions like you need to be living together where the house is the primary residence of both people? I inherited 2 houses in Ireland and I remember a lot of conditions to determine how much tax I paid.


  • #371
    wrangler
    Registered Users, Registered Users 2 Posts: 11,224 ✭✭✭✭wrangler


    El Horseboxo wrote: »
    Is it just as simple as being married and bam, you avoid inheritance tax? Are there not conditions like you need to be living together where the house is the primary residence of both people? I inherited 2 houses in Ireland and I remember a lot of conditions to determine how much tax I paid.

    Spouse inherit taxfree, sons and daughters around 300000 tax free, i think, nephews and nieces get around 30000......as you say a lot of conditions.
    So the younger mans children shouldn't have to pay tax n the house either......great result
    Best of luck to them anyway


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  • #372
    Annasopra
    Registered Users, Registered Users 2 Posts: 41,104 ✭✭✭✭Annasopra


    Dr Brown wrote: »
    I wasn't a fan of civil partnership either.

    Still silly and pointless

    It was so much easier to blame it on Them. It was bleakly depressing to think that They were Us. If it was Them, then nothing was anyone's fault. If it was us, what did that make Me? After all, I'm one of Us. I must be. I've certainly never thought of myself as one of Them. No one ever thinks of themselves as one of Them. We're always one of Us. It's Them that do the bad things.

    Terry Pratchet



  • #373
    Princess Consuela Bananahammock
    Registered Users, Registered Users 2 Posts: 33,663 ✭✭✭✭Princess Consuela Bananahammock


    Dr Brown wrote: »
    I wasn't a fan of civil partnership either.

    Even for straight couples?

    Everything I don't like is either woke or fascist - possibly both - pick one.



  • #374
    pl4ichjgy17zwd
    Closed Accounts Posts: 2,053 ✭✭✭pl4ichjgy17zwd


    Princess Consuela Bananahammock wrote:
    Even for straight couples?

    Straight couples couldn't enter a civil partnership


  • #375
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


  • #376
    JohnMc1
    Closed Accounts Posts: 4,987 ✭✭✭JohnMc1


    Dr Brown wrote: »
    This is one of the reasons I didn't vote for same sex marriage.

    It was inevitable people would use it to avoid paying tax but anyone who tried to say this around the time of the referendum would been branded a "homophobe" by the PC brigade.

    I said at the time that same sex marriage would cost the tax payer millions of euro in lost tax.




    https://www.rte.ie/news/ireland/2017/1215/927697-tax-marriage/


    That Adam Sandler and Kevin James movie has come to life.


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