Steven Matthews (Wicklow, Green Party)
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164. To ask the Minister for Finance further to Parliamentary Question Nos. 475 of 11 September and 160 of 20 September 2023, if he will consider an amendment to the Finance Act 2024 that would eliminate the anomaly in the approved retirement fund legislation whereby, upon the death of an ARF holder, foster children are treated under the ‘others’ category rather than the ‘child’ category; and if he will make a statement on the matter. [45107/23]

Michael McGrath (Cork South Central, Fianna Fail)
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As I have previously indicated in my response to the Deputy, I am aware of this differential treatment and my officials are examining the issue. In this context it is worth noting the Commission on Taxation and Welfare have recommended that assets held within an ARF should be treated for inheritance tax purposes in the same way as other assets where inherited by anyone other than the individual’s spouse, and therefore subject to both Income Tax and CAT.