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2018 Budget – No changes to CAT Thresholds

Posted on October 11, 2017 by Browne & Murphy Solicitors

The 2018 Budget was introduced by Minister Pascal Donohoe, in his first Budget speech, to the Dail on the 10 October 2017. The Minister announced no changes to CAT  exempt thresholds.

The current thresholds are:

Group Relationship   to Disponer Group   Threshold from 12/10/2016 to date

A

Son/daughter/minor Child of a deceased Child. Child also includes adopted children, step-children, long-term foster children (this is subject to conditions) and a child of a Civil Partner/minor Child of a deceased Child of a Civil Partner. Certain nieces  and nephews may also be able to avail of group A provided certain conditions are complied with.

€310,000

B

Brother/Sister/Niece/Nephew/Aunt/Uncle/Grandchild/Grandparent and a child of a Civil Partner of a Brother / Sister.

€32,500

C

Relationship not covered by Group A or B. eg cohabiting partners, distant  relatives and friends.

€16,250

Gifts/Inheritances received by a beneficiary above the threshold amount are subject to inheritance tax.

The current rate of tax payable by a beneficiary is:

Gift/Inheritance Current  Rates of Tax
Up to Threshold amount Nil
Amounts received over the Threshold amount 33% on gifts/inheritance

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