David Stanton (Cork East, Fine Gael)
Link to this: Individually | In context

Question 106: To ask the Minister for Finance if he will consider increasing the group B and group C thresholds for gift or inheritance tax; and if he will make a statement on the matter. [24049/04]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

The inheritance and gift tax thresholds referred to by the Deputy are increased each year in line with the annual increase in the consumer price index. The thresholds for the past three years are as follows:

The Budget 2004 estimated yield from capital acquisitions tax, that is, gift and inheritance tax, for 2004 is €150 million. It should be noted that the vast bulk of the tax comes from transfers to beneficiaries in the B and C groups, since there is no tax on transfers between spouses and because the threshold for group A beneficiaries is €456,438. In accordance with normal practice it is not appropriate for the Minister to comment on possible changes to tax in the run-up to the annual budget and Finance Bill.