Recipients could face tax bills running to tens of thousands of euro
Under revised tax rules, the Revenue Commissioners are targeting adults in receipt of financial support from their parents. First-time buyers who receive a contribution from their parents towards a house deposit could face tax bills that run to tens of thousands of euro, due to the latest clampdown by Revenue.Under revised tax rules, the Revenue Commissioners are targeting adults in receipt of financial support from their parents. According to the report, tax experts have warned that this could lead to significant Capital Acquisitions Tax liabilities for first time buyers.
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