Mr. Chambers emphasized, "I think it's important [to make changes] since the economy is strong, particularly as there’s been no changes for many years. We've seen improvement in property prices." He believes modifications to inheritance tax and Capital Acquisitions Tax are necessary at this time, highlighting that the government will examine specifics during Budget day.
Chambers noted that no decisions have been officially made regarding inheritance tax adjustments, stating, "I would say that there is, I think, consensus within government that the present [exemption] threshold around inheritance tax is too low." He pinpointed that the exemption threshold for inheritance is currently set at €335,000.
Highlighting the responsibilities of religious orders, Chambers said, "No religious order could evade its responsibility following the report into sexual abuse in religious-run schools... They should make a contribution to the compensation of victims... My sympathies are with all of the victims, and I commend them for their courage as part of the process."
#budget-2025 #inheritance-tax #capitals-acquisitions-tax #religious-institutions #compensation-for-victims
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