Announcement CAT limits being increased

Discussion in 'Budget 2017' started by Brendan Burgess, Oct 11, 2016.

  1. Brendan Burgess

    Brendan Burgess Founder

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    Category A - increased by 30k to 310k

    B and C by 8%
     
  2. SBarrett

    SBarrett Frequent Poster

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    Still pretty low threshold. We pay one of the highest levels of inheritance tax in the world.
     
  3. johnmcp

    johnmcp New Member

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    When does the new threshold kick in?
     
  4. TheBigShort

    TheBigShort Frequent Poster

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    Which is good, as by and large inheritance is merely a matter of circumstance.
     
  5. Joe_90

    Joe_90 Frequent Poster

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    €310k plus an unlimited value for a house that you have lived in for 3 years, not high at all!!!
     
  6. Gordon Gekko

    Gordon Gekko Frequent Poster

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    Watch this space Joe...Finance Bill
     
  7. SBarrett

    SBarrett Frequent Poster

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    If there is a house to live in. In most circumstances, that means you are a grown adult still living with your parents, so the house only applies to a few.

    I think it's safe to say most people have families of their own by the time of inheritance.

    Steven
    www.bluewaterfp.ie
     
  8. Joe_90

    Joe_90 Frequent Poster

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    Steven

    A common misconception, you do not have to live with your parents. If the parent gives the child cash over €310k its taxable, if the parent converts the cash into a house and allows the child to live in it for 3 years and gifts it then it's exempt (with a 6 year occupation or reinvestment requirement).

    But that's about to change by all accounts.
     
  9. SBarrett

    SBarrett Frequent Poster

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    I am aware of that Joe. That is why I said "in most circumstances" ;)
     
  10. DirectDevil

    DirectDevil Frequent Poster

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    I missed one point or did not understand it properly.

    Did the minister say that that the aggregate lifetime limits would increase or is that implied in the increase of the categories anyway ?
    Put another way, what is the current law on aggregate limits for capital tax purposes ?
     
  11. Pugmister

    Pugmister Registered User

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