AITI Chartered Tax Adviser

How is the transfer of a residential site from parent to child treated regarding CGT?

A gain arising on the transfer of a site to your child (including a foster child) is exempt provided the site is for the construction of your child’s principal private residence, the site’s market value does not exceed €500,000, and the site area (exclusive of the area of the house site) does not exceed 0.407 hectare (1 acre).