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Clients father loaned her €300k to buy a house. Revenue website says the notional interest for CAT should be calculated at the amount the disponer could be earning on deposit interest. (Very low at the moment!)
But clients solicitor has told them the notional interest should be calculated at the rate of an equivalent mortgage. (Higher)
Are we safe using the revenue website
From revenue website:
Interest free loan
If you receive an interest free loan this is a benefit and you may have to pay tax on it. The relevant tax date for this benefit is 31 December each year until the loan is paid off. The value of the benefit is the rate of return the funds would generate if they were invested on deposit.

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Posted by (Questions: 36, Answers: 1)
Asked on 20 November 2017 6:06 pm
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