Reliefs and Exemptions
There are a number of exemptions and reliefs available to individuals that have received a gift or an inheritance. However, like all taxes certain conditions apply to most of the reliefs and/or exemptions.
In order to ensure that you are claiming the correct relief or exemption from Capital Acquisition Tax, contact Iirishtaxback.ie to arrange a meeting to discuss your own personal situation.
Some Reliefs and Exemptions:
- Gifts or inheritances from a spouse or civil partner
- Business Relief
- Agricultural Relief
- Gift or inheritance of a house that has been your main residence
- Small gift exemption of €3,000 per year
- Payments for damages or compensation
- Benefits used only for the medical expenses of a person who is permanently incapacitated due to physical or mental illness
- Benefits taken for charitable purposes or received from a charity
- Retirement benefits and redundancy payments