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We have written to the Minister for Finance, Michael Noonan concerning the Inheritance Tax threshold which is at €225,000 since 2012 having been reduced from €542,000 which was set in 2009.
This is money that has already been taxed several times through other forms of taxation.
We, the Kenmare Women’s Group, which consists of more than 40 members, think the current level is a penal rate and should be restored to the previous, more reasonable level of €542,000.
We hope this will be addressed in the budget.
Many of our members have small families and this level of taxation hits very hard. Having to incur penalties which are backdated is a known risk burden for people who will have to sell the asset (ie, house, etc) to comply.
We sincerely hope that this matter will be attended to by Minister Noonan immediately, as we are all taxpayers and voters.
Kenmare Women’s Group
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