Vol. 508 No. 1
372 Mr. Gormley asked the Minister for Finance if his attention has been drawn to the serious problems associated with inheritance tax, in that many people find their home to be worth vastly more than the original purchasing price and, instead of forming a potential asset, it can represent a financial burden; the plans, if any, he has to remedy this situation; and if he will make a statement on the matter. [18503/99]
I am aware of the tax burden facing certain individuals, particularly on the inheritance of the family home where they had been residing. I would remind the Deputy of what I said in this House earlier this year during this year's Finance Bill debate. At that stage, I undertook that prior to the next budget, I would examine the capital acquisitions tax code in some detail. This examination is currently taking place.
The forecasted yield for 1999 from inheritance tax alone is about £83 million. This revenue greatly assists the Government's programme and helps achieve the ongoing goal of reducing the tax take on employment incomes. For this reason, any significant changes to the tax must be considered in a budgetary context.
373 Mr. McGuinness asked the Minister for Finance if special consideration will be given to the case of a person (details supplied) in Kilkenny who has applied to the Revenue Commissioners on medical and other grounds for mitigation of the inheritance tax due by her. [18502/99]
394 Mr. McGuinness asked the Minister for Finance if the case of a person (details supplied) in County Kilkenny will be examined to determine if assistance or advice can be given to her in relation to her account with the Revenue Commissioners in view of the circumstances. [17934/99]
I propose to take Questions Nos. 373 and 394 together.
