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?
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?