Exemption of certain securities
A gift or an inheritance of certain Government securities and units held in certain unit trust schemes are exempt from Capital Acquisitions Tax (CAT) if:
- the securities or units were held by the disponer continuously for a period of 15 years before the date of the gift or inheritance
- the securities or units are comprised in the gift or inheritance both at the date of the gift or inheritance and at the valuation date
- and
- they are taken by a beneficiary who is neither domiciled nor ordinarily resident in the State.
The 15 year ownership period does not apply where:
- the disponer was neither domiciled nor ordinarily resident in the State at the date of the disposition
- or
- the disponer held the securities or units before 26 March 1997 or they became subject to the disposition before that date
- and
- the disponer was neither domiciled nor ordinarily resident in the State at the date of the gift or inheritance.
This exemption is not available for Discretionary Trust Tax.
Note
For further information on the date of the disposition please see Capital Acquisitions Tax Consolidation Act 2003 (Finance (No.2) Act, 2023 edition) Notes for Guidance - Part 1.
How to claim the exemtpion
To claim the Exemption of certain securities, you need to file a CAT return Form IT38 online. You must file the return through myAccount or Revenue Online Service (ROS).
For further information please see Completing your gift or Inheritance Tax Return (IT38).