Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

236. To ask the Minister for Finance the last occasion on which the €3,000 annual small gifts exemption for the purposes of capital acquisitions tax was changed; and if he will make a statement on the matter. [24663/15]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am advised by the Revenue Commissioners that section 69 of the Capital Acquisitions Tax Consolidation Act, 2003 provides for a cumulative annual exemption of €3,000 for gifts taken by any one person from any one donor in each calendar year. This annual exemption was originally £250 (€317) and was increased to £500 (€635) in 1979, £1,000 (€1,270) in 1999 and most recently to €3,000 in 2003.