Eoin McGee
๐ค SpeakerAppearances Over Time
Podcast Appearances
I thought where your question was going to go, so I'm going to throw it in there anyway.
I thought you were going to say, can I give them some money or can I pay for the wedding?
That's,
Are you Lighthouse Crafts by any chance, no?
You are, right, same person.
Okay, great Instagram account.
But there's a plug for you now on RT Radio 1.
Thank you.
But one of the things I'd say, Agnes, is this is one of the things, just for everyone listening out there, there are certain things that you can pay for in your kids' lives that don't come out.
So a child can get โฌ400,000 off their parents in their lifetime before they start to pay tax.
That's the capital acquisition or inheritance tax allowance.
There are certain things you can pay for, light and heat and their food and clothes and everything else.
Paying for their wedding, if it's reasonable contribution to their wedding.
I don't know what reasonable means, right?
Some people determine reasonable as if it's in Ireland.
Some people would say it's not reasonable to have Westlife there or something like that, right?
Depending on what your definition of what reasonable is.
But if it's a reasonable contribution to the wedding, it doesn't come out of the 400,000th.
Now, to compare that, contrast that with, if you give them a deposit for a house or contribution deposit, it does come out of the 400,000.
So it's an interesting one because weddings are still one of the things that revenues say, yeah, mammy and daddy, you want to put your hand in your pocket, go for it.