asked the Minister for Finance whether he is aware that, while provision is made for exemption from death and succession duties of estates when the value does not exceed £5,000, those duties must be paid on the total value of the estate when it exceeds such a figure; and if to obviate resultant hardship and to remove an anomaly he will introduce amending legislation to exempt the first £5,000 of all estates from such duty.
Ceisteanna—Questions. Oral Answers. - Estate Duty.
24.
The answer to the first part of the question is in the affirmative. With regard to the latter part, since the introduction of the £5,000 exemption limit for death duties was in relief of small estates, it is not accepted that the charge of duty on the full value of estates exceeding £5,000 causes a hardship or constitutes an anomaly. As the Deputy is aware, however, succession duty is not charged on benefits taken by a spouse, lineal ancestor or lineal descendant unless the net value of the estate exceeds £15,000.
Surely the Minister will admit that it is a hardship for a person who owns an estate of £5,001 to have to pay the full rate of duty while a person with an estate valued at £5,000 has not to pay anything? Is there not a hardship there and an anomaly?
I do not think so.
Surely there is something wrong when a man with £1 more than £5,000 has to pay the duty when a person with a £5,000 estate does not have to pay?
It is unpleasant to have to pay tax at all. I concede that.