Dáil Éireann Debate, Tuesday - 23 June 2015
277. Deputy Dan Neville asked the Minister for Finance the position regarding payment of Capital Acquisition Tax in respect of a person (details supplied) in County Limerick; and if he will make a statement on the matter. [25140/15]
View answerThe tax treatment of payments made to an individual, or to that individual's estate, pursuant to the Magdalen Commission Report was set out in Section 77 of the Finance (No. 2) Act 2013. In essence, a payment to a survivor, or to the estate of a survivor, is not a gift or inheritance and is therefore not subject to Capital Acquisitions Tax (CAT) at that point. However, any subsequent transfer of a payment from the survivor or the survivor's estate is subject to the normal rules of taxation.
I am advised by the Revenue Commissioners that the person in question received an inheritance from the estate of a survivor, and as such CAT applies to that benefit subject to the normal rules of inheritance. I am further advised that the Revenue Commissioners wrote to the person's legal representative on 14 April 2015 explaining the due date for the relevant return and any payment will be 31 October next.
