Gift Tax Exemptions

A. The small-gift exemption allows anyone to gift up to €3,000 in any tax year to anyone else.

What this means is that a beneficiary can receive up to €3,000 tax-free in any one year from any donor, or even multiple donors, and this gift will not impact on the amount that they can receive tax-free by way of larger gifts/inheritances in the future.

A common use for this ‘small gifts exemption’ is for grandparents, aunts, and uncles to gift money to children. Each adult can gift each child up to €3,000 in any year with no tax liability for the child and without the amount of the gift reducing the child’s tax-free threshold for future gifts/inheritances.

Date published 4 Aug 2017

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.