Capital Acquisitions Tax - Thresholds per individual?

[weston68]

My question is about the tax free thresholds for the three groups of CAT.
Take group A where the tax free threshold is currently €335K.
Say I inherited €100K from one parent some years ago. Say also that my second parent died earlier this year. Is the threshold for my inheritance from my recently deceased parent €235K (i.e. less the €100K already received from my other parent) or does my recently deceased parent give me a full threshold of €335K as I never inherited anything from them to date?
Take group B where the tax free threshold is currently €32.5K.
Group B broadly represents siblings. Does the threshold of €32.5K relate to each individual sibling or does it mean that cumulatively I can inherit a total of €32.5K from all siblings and above that, I must pay CAT?

 

[Zobeda]

Capital Acquisitions Tax (CAT) thresholds, rates and aggregation rules

This page outlines CAT thresholds, rates, and aggregation rules

www.revenue.ie

It's all set out very clearly above.

 

[Brendan Burgess]

Say I inherited €100K from one parent some years ago. Say also that my second parent died earlier this year. Is the threshold for my inheritance from my recently deceased parent €235K (i.e. less the €100K already received from my other parent)

Yes.

The threshold is for cumulative gifts and inheritances from that class.

 

[Brendan Burgess]

does it mean that cumulatively I can inherit a total of €32.5K from all siblings and above that, I must pay CAT?

That is what it means.

 

[weston68]

Capital Acquisitions Tax (CAT) thresholds, rates and aggregation rules

This page outlines CAT thresholds, rates, and aggregation rules

www.revenue.ie

It's all set out very clearly above.

Thanks very much. I had read the detail on www.revenue.ie and had understood it was cumulative from 5 December 2001 but was not sure if one threshold covered multiple people. Thanks for that.