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Written by Donegans
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Monday, 25 January 2010 09:55 |
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Wills and Inheritance/Gift Tax Free Thresholds. Revenue reduced the tax free gift and inheritance thresholds in the calendar year 2010. Group thresholds are annually indexed by reference to the Consumer Price Index. The thresholds are cut by 4.5% in 2010 in line with the fall in the Consumer Price Index.
These cuts are the second in the past nine months. The previous cuts having taken place in April 2009 during the Emergency Budget. The new tax thresholds for gifts and inheritances are: · Group A €414,799 – where the beneficiary is a child (including adopted child, step-child or certain foster children) or minor child of a deceased child of the Disponer). · Group B €41,481 – where the beneficiary is a brother, sister, niece, nephew or lineal ancestor or lineal descendent of the Disponer. · Group C €20,740 – all other cases It is important to review Wills on an ongoing basis to take into account changes in the economic climate and also any changes in personal circumstances. If you wish to review your Will, please ask to speak to any member of our team who will be happy to assist. |
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Last Updated on Monday, 25 January 2010 09:58 |
