|Portion of taxable value of benefits
||% (From 08/04/09)
||% (From 07/12/11)
||% (From 06/12/12)
|The threshold amount
- The rates of inheritance tax and gift tax are applied by reference to the aggregate of all taxable inheritances and taxable gifts taken after 5th December 1991 by the beneficiary being taxed. Inheritances or gifts taken before 5th December 1991 are not aggregated in relation to inheritances or gifts taken on or after that date.
- Tax rates were considerably higher for benefits taken prior to 1st December 1999 and differed between gifts and inheritances.
- For the purpose of Gift and Inheritance Tax, the relationship between the person who provided the gift or inheritance (i.e. the Disposer) and the person who received the gift or inheritance (i.e. the beneficiary), determines the maximum tax free threshold – known as the “group threshold”.
- For the new indexed threshold amounts, see table below.
|Indexed Threshold Amounts
| Relationship to donor
|| Gift or inheritance in
||From 08/04/09 (€)
||From 01/01/10 (€)
||From 08/12/10 (€)
||From 01/01/11 (€)
||From 07/12/11 (€)
||From 06/12/12 (€)
|Any other person
* In certain circumstances a parent taking an inheritance from a child can qualify for the Group A threshold.
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