Since Cthumbnail-new-househristmas the rules governing the tax payable when parents gift property to their children have become more stringent. The Dwelling House Exemption” has had its application reduced significantly.

Revenue has lauded the move estimating that it has lost up to 18.76 million euro in the years 2011-2015 resulting from the broad scope of the exemption.

The relief used to apply by allowing a person to be gifted property on the condition that they live in the property for three years and retain ownership of the property for six years after it was gifted to them, which in turn would extinguish any tax liability from re-emerging. The exemption was intended to apply between parents and children but it ended up being used in other circumstances too.

With the exception of relatives that are either incapacitated or over the age of 65 the Dwelling House Exemption now only applies to inheritances. Furthermore the exemption will only apply to inheritances where it was the donor’s principal private residence.

Some of the criteria remain the same for the exemptions applicability as the person inheriting the property will still have to have lived in it for three years prior to the gift and retain ownership for six years thereafter. If the person inheriting the property does not retain ownership for 6 years Revenue will be entitled to a percentage clawback of the Capital Gains Tax that would have been payable had the exemption not applied at the date of the inheritance.

The new rules came into force over Christmas but will not apply to any gifts or inheritances made up to the signing of the Finance Act 2016.

For more information on the above please contact Thomas Norris on 051 877029 or by emailing or contact Michael O’Grady on 051 877029 or by emailing

Client Testimonial

I am pleased with your firm’s service and everything has been answered in a timely manner. I appreciate having your firm handle my case; they have put my mind at ease. I would absolutely recommend your firm to family and friends.”

Client Testimonial

MW Keller have advised our business for many years. We find them to be an invaluable resource, as given their size and breadth of clientbase, they've seen and heard it all before, so are advising us based on first hand experiences. - DVF Print & Graphics Solutions

Client Testimonial

‘For the last 5 years I have regularly engaged the services of MW Keller. They are wonderful service providers. Their attention to detail, responsiveness and business acumen is exceptional. I know if I engage them to work on a legal issue they will represent my interests fully and take the burden off me. It’s also good to get questions answered in a timely manner. I would highly recommend them.’ 

COVID-19 Safety Precautions

From the 8th of June, our offices will re-open however, to protect our Staff and Clients, attendance at our office will be by appointment only with our front door kept locked during the pandemic. We would ask that when you attend our office for a pre-booked appointment that you wear a facemask or face covering and please bring your own pen.