Time to have that awkward talk about tax with the kids
Paschal Donohoe can’t keep everyone happy on inheritance tax, no matter how delicate a balancing act he manages to execute in his next budget
Inheritances have always played an important, if arbitrary, role in generational wealth creation in this country, where the ownership of land, and now a house of one’s own, has deep roots in the national psyche. In Ireland today, you still are what you own.
Unlike other countries where the deceased’s estate is taxed and the proceeds then distributed, here individual beneficiaries pay the capital acquisition tax (CAT) on the inheritance or gift.
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