Aideen Hayden (Labour) | Oireachtas source

Senator White raises an interesting point around inheritance. I suggest to the Leader that we might have a debate on the issue of taxation more generally, in particular taxation and fairness. I must admit I cannot agree with Senator White. First, inheritance tax is based on value and, obviously, Dublin properties are more valuable than properties outside of Dublin. The other point I would make is that inheritance tax is tax on unearned income and is set at 33% after the €225,000 allowance. Someone can work a couple of extra hours in a supermarket and pay 40% at the marginal rate. I do not think tax on unearned income should be lower than tax where people go out and work in productive employment.