What will the Tax Strategy Group paper mean for CAT?

As the old saying goes, there’s nothing more certain than death or taxes, and Capital Acquisitions Tax (CAT) is the one such tax that actually arises in both events, writes rural accountant Kieran Coughlan.

The Tax Strategy Group has presented a paper to the Government ahead of this year’s budget which sets out some of the options available to the government, writes rural accountant Kieran Coughlan.

The move to enhance gift and inheritance tax has been very well flagged over the last couple of months. The Tax Strategy Group has presented a paper to the Government ahead of this year’s budget which sets out some of the options available to the government.

The paper reflects on the background of the introduction of the tax in the mid-1970s when the tax was brought in along with the Capital Gains Tax to ‘strengthen tax equity between those earning primarily ordinary income and those whose wealth was accumulated via capital’.