2018 Budget – No changes to CAT Thresholds
Posted on October 11, 2017
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 |
