Vol. 216 No. 7
asked the Minister for Finance what estimate has been furnished to him of the increased amount of estate duty in the current financial year which will be payable if dispositions made five years before death are aggregated as proposed by Financial Resolution No. 18, as compared with those made within three years as heretofore.
9.
asked the Minister for Finance the expected increase in revenue resulting from increasing from three to five years the period within which gifts before death are liable for death duties.
I propose, with your permission, a Cheann Comhairle, to take Questions Nos. 8 and 9 together.
Statistics are not compiled in such a manner as to enable an accurate estimate to be made of the extra revenue which would be brought in by the extension of the period of liability for gifts inter vivos from three years to five years. I might add, however, that the capital value of gifts inter vivos which have been taken into account for estate duty purposes has been rising in recent years and in 1963-64 amounted to £420,000.
If the Minister says he is not in a position to get an assessment of the differences from statistics, can he indicate why it was proposed to vary the period from three years to five years?
Well, this is not unusual in neighbouring countries. As the Deputy knows, it has been extended in the United Kingdom but in any event, I suggest that this is a matter that can be discussed to better advantage on the Finance Bill.
