Law Society calls on Government to raise inheritance tax thresholds

09/10/2015 12:02:00

The Law Society of Ireland is calling on the Government to raise the punitive Capital Acquisitions Tax thresholds in Budget 2016.

The current level of Capital Acquisitions Tax (CAT) thresholds places an unfair tax burden on children inheriting property from their parents, forcing many to sell their family home in order to pay the tax bill.

Director General of the Law Society Ken Murphy said, “These inheritance tax thresholds were never intended to catch ordinary people in the tax net. Inheritance tax was meant to tax people who receive exceptionally large inheritances, not modest three bedroom semi-ds.”

View the full press release of 9 October 2015.