Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

Deputy McGrath has proposed that a report on the options to incentivise charitable donations in the form of bequests and the transfer of shares to charitable organisations be prepared and laid before the Dáil. Capital acquisitions tax is a tax on the beneficiary of a gift or an inheritance. Section 76 of the Capital Acquisitions Tax Consolidation Act 2003 provides that a gift or an inheritance which is taken for public or charitable purposes is exempt from both gift tax and inheritance tax and is not taken into account when computing tax to the extent that Revenue is satisfied that it has been, or will be, applied for purposes which in accordance with the laws of the State are public or charitable. As there is already provision for the transfer of gifts and inheritances of assets, including shares, for public and charitable purposes free from capital acquisitions tax, I do not see a need to consider any further options to incentivise such donations.

Should the Deputy require further clarification on this matter, I will be pleased to engage with him on it. I would also be happy to meet groups which may have ideas in this area. I ask the Deputy to accept my view on the amendment and consider withdrawing it.

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