Limited progress made on the inheritance front

Limited progress made on the inheritance front
The Minister for Finance has announced an increase of €55,000 in the tax-free threshold which applies to gifts from a parent to each of their children

The increase in the tax-free threshold on gifts from parents to children is underwhelming

In a well-telegraphed move, the Minister for Finance has announced an increase of €55,000 in the tax-free threshold which applies to gifts from a parent to each of their children. The threshold now stands at €280,000, and applies in respect of gifts or inheritances received on or after October 14, 2015. In monetary terms, this increase in the tax-free threshold equates to a tax saving of €18,150.

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