Denis Naughten (Roscommon-South Leitrim, Independent) | Oireachtas source

I support the principle of these amendments. None of us wants to see abuse of the law in this area. There is an unintended consequence of the way legislation is published. House prices are creeping up and up; the thresholds for inheritance have come down and there are completely new deposit criteria for young couples in order to draw down a mortgage. In many cases they will have to turn to their parents for assistance to get that money. As Deputies Creighton and Donnelly have said, if people are not taxed on that money today they will be taxed on it down the road. Many of these families struggle to make ends meet on a day-to-day basis. If their parents pass away and they have to face a tax bill from the Revenue Commissioners because they got financial assistance, whether to put down a deposit on a house or for a wedding it is unfair. The threshold is €3,000 or €60 a week. Changes have been made for people with a disability, which are welcome. I hope the Minister of State can clarify this. It is disappointing that we have not received a guidance note from the Revenue Commissioners in advance which could make matters far clearer than they are. Deputies Donnelly and Creighton have raised genuine concerns that need to be addressed.

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