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 if:

  • they are taken by a beneficiary who is neither domiciled nor ordinarily resident in the State
  • 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
  • the securities or units were held by the disponer continuously for a period of 15 years before the gift or inheritance.

The 15 year ownership period does not apply where the disponer is 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.