Budget 2020: Will the changes to CAT affect me?

Budget 2020 mentioned some changes to Capital Acquisitions Tax. I am about to inherit the family home from my father and I would like to know if this will impact me? 

8th October 2019

In Budget 2020 the Minister changed the threshold for Capital Acquisitions Tax (CAT) in what is known as ‘Group A’. Group A applies to transactions from parent to child. 

From now on, the first €335,000 you receive will be exempt from tax whereas before today that limit was €320,000.

You can contact your local TaxAssist Accountants if you need help filling this return.

 

Disclaimer: Advice shared in this blog is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this forum, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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1800 98 76 09

Book a free consultation