Galway TD urges Finance Minister to increase tax threshold for cash gifts from parents to children

Galway Bay fm newsroom - A Galway TD is urging the Finance Minister to change the maximum amount of money a parent can gift their children each year without being liable for tax.

Raising the matter in the Dáil, Deputy Eamon O' Cuiv noted the current limit per year is €3 thousand - a rate that was set in 2003.

He asked Minister Pascal Donohue that it be modestly increased to at least reflect inflation.

Deputy O' Cuiv noted that many parents are now supporting their children due to the current economic climate.

Here's the exchange in the Dáil.

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