Probate Tax

What exemptions and deductions are allowed?

Estates having a taxable value under a relevant threshold are entirely exempt from Probate Tax.

It is important to note that where the taxable value exceeds the relevant threshold, the entire estate is liable to tax. In arriving at the taxable value of the estate, the following deductions from the gross estate are allowable:

  • debts of the deceased due at the date of death and funeral expenses
  • 30% of the value of agricultural land and buildings
  • the value of the dwelling-house including grounds of up to one acre and the normal contents, if inherited by:
    • a qualified dependent child
    • or
    • a dependent relative
  • the value of property given for public or charitable purposes
  • the value of superannuation benefits
  • the value of the proceeds of certain insurance policies, to the extent to which they are used to pay the tax and, or inheritance tax
  • the value of heritage property subject to certain conditions
  • the value of certain securities where the deceased was resident and domiciled outside the State.

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