Business reliefGifts and inheritances of relevant business property qualify for relief that reduces the taxable value of the property by 90% for the purposes of Capital Acquisitions Tax.
Agricultural reliefTax relief applies to gifts and inheritances of agricultural property and reduces the market value of the property by 90% for the purposes of Capital Acquisitions Tax. More information on agricultural relief can be found on www.revenue.ie.
Heritage Property reliefHouses and gardens or objects that are of national, scientific, historic or artistic interest are exempt from Capital Acquisitions Tax if they meet certain conditions.
Just a note of warning, the relief can be clawed back if the conditions are not kept.
Agricultural reliefTax relief applies to gifts and inheritances of agricultural property and reduces the market value of the property by 90% for the purposes of Capital Acquisitions Tax. More information on agricultural relief can be found on www.revenue.ie.
Heritage Property reliefHouses and gardens or objects that are of national, scientific, historic or artistic interest are exempt from Capital Acquisitions Tax if they meet certain conditions.
- Reasonable facilities for viewing must be available to members of the public or, in the case of objects, to recognised bodies or associations.
- The property must not be used for trading purposes.
- Houses and gardens must have had reasonable facilities available for their viewing by the public for three years before a gift or inheritance.
- The property must not be sold within 6 years unless the sale is to a national institution by private treaty.
Just a note of warning, the relief can be clawed back if the conditions are not kept.