Shane Ross (Dublin South, Independent)
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245. To ask the Minister for Finance his plans to raise the threshold for inheritance tax for those who return to the family home to care for elderly parents, thus reducing the need for additional or nursing home care; and if he will make a statement on the matter. [25999/15]

Michael Noonan (Limerick City, Fine Gael)
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I have said in response to a number of other recent Parliamentary Questions on this matter that I recognise that recent growth in property values has implications for the liabilities that can arise from capital acquisitions tax. For this reason, I am reviewing the various aspects of this tax, including the lifetime tax-free thresholds, in the context of my preparations for Budget 2016 and the subsequent Finance Bill.

I would, however, refer the Deputy to the existence of the CAT dwelling house exemption, which allows for a property to be gifted or inherited tax free when the beneficiary is already living in the home. While certain restrictions and conditions apply to ensure its proper use, this exemption is designed to prevent cases of hardship or displacement for individuals who are home sharers and carers. In cases where the dwelling house exemption applies, the tax-free thresholds are unaffected and continue to apply separately and are available to an individual to cover the value of other gifts or inheritances which he or she may benefit from over their lifetime.