Revenue eBrief No. 021/18
14 February 2018
Capital Acquisitions Tax - Gifts and inheritances taken free of tax and exemptions for the receipt of certain political donations and for inheritances taken from certain types of pension fund
The Capital Acquisitions Tax Manual has been amended:
- In Part 14 (Gifts and inheritances taken free of tax) to clarify the operation of section 87 of the Capital Acquisitions Tax Consolidation Act 2003 and to update the example at paragraph 14.2. The operation of the provision is unchanged.
- In Part 23 (CAT exemptions) to:
- incorporate material formerly available in Revenue Statement of Practice SP-CAT 1/02 on the circumstances in which the receipt of political donations is exempt from CAT (section 23.7)
- reflect amendments made by Finance Act 2017 to section 85 of the Capital Acquisitions Tax Act 2003 in relation to inheritances taken by a child over 21 years of age from certain types of pension funds held by his or her deceased parent (section 23.5).