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Where a parent loans money a child to assist acquiring a house with the child paying capital only loan repayments over a 35 year period, is the amount of interest foregone annually which is treated as a gift by the child calculated as the interest that would have been earned on deposit or is it calculated based upon the interest that would apply to a bank mortgage ? Section 19.14 of the Revenue CAT manual appears to suggest it would be the highest deposit rate available.

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Asked on 11 November 2017 5:04 pm