There has been a call for the tax rates on Capital Acquisitions Tax to be further reduced.
Fianna Fáil general election candidate, Linda Gordon Kelleher, said the current situation is placing a big burden on people.
“I welcome the increase of the threshold for a son or daughter who receive inheritance in Budget 2025 but further progress is needed,” she said.
Ms Gordon Kelleher highlighted the fact that in 2008, a son or daughter who got inheritance would be taxed less and the threshold was higher and the aim now must be to progress towards similar numbers to ease the burden.
“In 2008, we were talking about a €520,000 threshold for a son or daughter and a rate of 22%. I believe the values should be reflective of the 2008 prices – in fact we’ve gone above that,” she said.
The Killarney-based FF candidate said she recognises the hard work being sought on this matter by her party colleague and Minister for Finance Jack Chamber but the Government must strive to lighten the load for people further.
“I welcome the increases of the threshold for a son or daughter in Budget 2025 to €400,000 from €335,000 but the tax rate of 33% hasn’t changed and I believe it is too high.
“If elected, I will work tirelessly and engage with Minister Jack Chambers and the Department of Finance on this very important issue,” she said.
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