Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I am reviewing the whole ambit of the texts in the context of the forthcoming budget. The Deputy asked whether I would consider indexing the thresholds. The thresholds were previously indexed to inflation through the consumer price index, but this link was broken following the financial crash, as inflation was positive while property values were declining considerably. We want to be sure in what direction values are going before we index. The other thing that is not generally known is that there is a capital acquisitions tax dwelling house exemption, which allows for a property to be inherited tax-free where the inheritor is already living in the home. If a son or daughter is the carer, is living in the home and inherits the property, they have no tax liability, regardless of thresholds. The thresholds only apply to people who are not living in the home and who inherit.

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