Colm Burke (Cork North Central, Fine Gael) | Oireachtas source

I fully accept what the Minister said about the exemptions that are available but it was 2003 when this was last changed. It is 20 years on and it is the time to look at this again, particularly in respect of CAT. Generally, the exemptions that were there prior to 2008 were greater than what they are now. As the Minister will appreciate, the value of property has gone up substantially and the cost of living has gone up in the meantime. Therefore, should the increases in CAT relief not be applied in the same way? I fully accept that there is a responsibility on people to pay tax on gifts but there needs to be some equalisation as well when the cost of living and the cost of housing have increased. Therefore, there should be an increase in the reliefs that are available.

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