If you inherit or receive a gift of business property, you may qualify for Business Relief.
Business Relief reduces the taxable value of the business property which Capital Acquisitions Tax (CAT) is calculated on by 90%. This is subject to conditions.
A business is any activity, trade, profession or vocation which generates income or profits over time.
Agricultural property which does not qualify for Agricultural Relief may qualify for Business Relief.
Next: What are the conditions for Business Relief?