Dáil Éireann Debate, Tuesday - 25 April 2023
222. Deputy Bernard J. Durkan asked the Minister for Finance if an arrangement can be entered into by the Revenue Commissioners with a person (details supplied); if the person qualifies for the dwelling house exemption; and if he will make a statement on the matter. [19478/23]
View answerI am advised by Revenue that there is an exemption from Capital Acquisitions Tax (CAT) where an individual inherits a dwelling house provided that the individual inheriting, meets certain qualifying conditions.
The qualifying conditions include that the person:
- has lived in the dwelling for a specified period before the inheritance
- will continue to live in the dwelling for a specified period after the inheritance
- has no beneficial interest in any other residential property at certain specified dates
A comprehensive list of the qualifying criteria is available on Revenue’s website at www.revenue.ie/en/gains-gifts-and-inheritance/cat-exemptions/dwelling-house/qualifying-conditions-inheritance-on-after-251216.aspx.
In order for Revenue to determine eligibility for the Dwelling House exemption, the person concerned should file a CAT return Form IT38. Further information on the IT38 is available on Revenue’s website at: www.revenue.ie/en/gains-gifts-and-inheritance/completing-gift-or-inheritance-tax-return-it38/how-do-you-file.aspx
If the person concerned requires clarification or assistance with the completion of the Form IT38, the National CAT Helpline is available on (01) 738 36 73.
