Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I appreciate that. There is a need for greater clarity on this matter. Deputy Creighton made a number of remarks in respect of homes in which people have lived all their lives. My understanding is that if one has lived in a house all one's life and if it is one's principal private residence, one is not liable to pay this tax in the first instance. Perhaps Deputy Creighton does not understand that fact.

To return to the discussion on the amendment, will the Minister of State clarify that what is proposed will only come into play if one has reached the €225,000 threshold? In other words, a person would have to be gifted €225,000 by his or her parents before it would kick in and the income above that would be taxed. Am I correct in stating that if someone's parents intend to provide him or her with financial assistance in respect of his or her wedding, the provision will only apply if that person has already received €225,000 from his or her parents?

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