Tuesday August 11, 2020

Offer a helping hand by all means, but exercise prudence

What are the tax and legal consequences for parents?

14th February, 2016
Gifting money as part of the purchase price should only be done if parents can afford it

Home ownership is ingrained in our society and young people are often encouraged by their parents to purchase homes.

In order to purchase a home, it is likely that a young person will borrow money from a bank.

The tightening of banking lending regulations and rising property prices means young people are finding it increasingly difficult to purchase a home. And parents do not want to see their children missing out.

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