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inheritance tax?

  • 17-05-2015 3:05pm
    #1
    Brinimartini
    Registered Users Posts: 279 ✭✭


    I'm on a disabi, ity pension and am about to inherit circa 60k as one of seven from sale of parents house.
    Will I have to pay any tax on that?


Comments

  • #2
    luckyboy
    Registered Users Posts: 274 ✭✭luckyboy


    Brinimartini wrote: »
    I'm on a disabi, ity pension and am about to inherit circa 60k as one of seven from sale of parents house.
    Will I have to pay any tax on that?

    Unless you have previously inherited or been gifted about €165k from either parent since December 1991, then "No" is the answer. You basically have a €225k lifetime exemption threshold for gifts or inheritances from your parents. As always with tax matters, get proper professional advice if you are not sure ...


  • #3
    brucky
    Registered Users Posts: 131 ✭✭brucky


    The threshold for Inheritance tax changed in 2009. As an only child if I was to inherit my mother’s house I would be unfairly penalised by the current €250k limit. This would without doubt inflict a massive financial liability on me, and my family. In addition to this and as a member of the negative equity generation it means that I would be forced to sell the family home and it would feel like a double blow. This the same for a lot of families accross the country. We should now lobby Minister Noonan & the TD's ahed of the October budget. Our parent's worked all their life and a vast chunk is taken by the tax man its completely unfair & unjust. The economy is starting to turn and we should now be pushing to have the threshold increased as Ireland's Inheritance tax is the highest in Europe


This discussion has been closed.
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