Vol. 506 No. 2
209 Mr. Durkan asked the Minister for Finance the amount of inheritance tax paid to date by a person (details supplied) in County Kildare as a result of inheritances since 1990; the amount outstanding; and if he will make a statement on the matter. [15066/99]
I am informed by the Revenue Commissioners that the taxpayer in question has paid a total of £12,861.09 in inheritance tax in respect of benefits totalling £146,512.98. There is an outstanding tax liability of £16,279 and accrued interest amounting to £8,900.
210 Mr. Hayes asked the Minister for Finance the plans, if any, he has to amend the law concerning the implementation of inheritance tax in view of the massive rise in house prices particularly in the Dublin area; his views on whether inheritance tax is causing hardship for a significant group of people; and if he will make a statement on the matter. [15102/99]
I accept that the value of property has increased substantially above the relevant capital acquisitions tax thresholds. Various changes and concessions have been made to the CAT code over the years to alleviate this situation, by both my predecessors as well as by me.
I have undertaken during the Finance Bill, 1999, debate to review the CAT system before the next budget. It is necessary to remember that changes in the CAT area are costly and that they are primarily of benefit to those in receipt of a gift or inheritance and not the general body of taxpayers.
