Darragh O'Brien (Fianna Fail) | Oireachtas source

I move recommendation No. 6:

In page 95, line 33, to delete " "€280,000" " and substitute " "€300,000" ".

This amendment relates to the capital acquisitions tax inheritance threshold, which the Government has set at €280,000. Most of us would be of the view that this is still too low. I am not presuming that the threshold can be raised overnight to an appropriate level but the Minister of State will be aware that in the context of the sale of a standard family home and the dispersal of a will, the sale price would be well in excess of the set amount. We believe that it is unfair on families to have to pay further tax, particularly when account is taken of the fact that payments on the house will in all cases have been made from net income.

I am proposing in this recommendation that the Government go a little further and in this regard substitute "€280,000" with €300,000". I do not think I need to say any more than that on this issue.