Dáil Éireann Debate, Tuesday - 20 June 2017
338. Deputy Brendan Ryan asked the Minister for Finance his views on the revenue standing in relation to children of a first marriage (details supplied); his further views on whether potential changes to the law could be made to give children from the first marriage equal standing in terms of inheritance; and if he will make a statement on the matter. [28924/17]
Amharc ar fhreagraI am informed by Revenue that for inheritance tax purposes, the relationship between the deceased (i.e. the disponer) and the person who receives the inheritance (i.e. the beneficiary) determines the maximum amount known as the “Group threshold” below which inheritance tax does not arise.
There are three separate Group thresholds based on the relationship of the beneficiary to the disponer. The Group A threshold (currently €310,000) applies, inter alia, where the beneficiary is a child (including adopted child, step-child and certain foster children) or minor child of a deceased child of the disponer. Therefore, there is no difference between the tax-free threshold that applies to any child, including a step-child from a previous marriage or civil partnership.
In the circumstances, children from a first marriage or civil partnership have equal standing in terms of inheritance tax to children from a subsequent marriage or civil partnership and I do not see any need to amend the Capital Acquisitions Tax Consolidation Act 2003, which Act provides for inheritance tax.
