Why inheritance is the dirty secret of the middle classes – harder to talk about than sex

^ what he said.

I don't agree with the idea of VAT either and in fact it was only created 100 years ago and introduced to Ireland 50 years ago.

But it does make up 17% of Exchequer income, so not an easy thing to unwind. But if it were up to me l, I would unwind it, over 10 or 15 years.

Leach?

How are they leaching off others supposed oppression?

Bit of a jump there in terms of upper middle class needing to leech off others' supposed oprression - sounds like you came to the conclusion before doing the research.

That said, wealth or legacy IS a privilege on the basis that it's an advange you have without being aware of it. Just look at FF (and probably FG and others to be fair) in the 80s 90s and 00s to see how much easier it was to become a TD when one of your parents was already elected.

There was a show on Netflix called Dear White People which toyed around with the idea of race v legacy as the more benefetical privilege by putting a black student in an ivy league college where his father was the Dean.

Presumably he meant CAT.

My specific problem could have been resolved if the rules for Dwelling House Relief hadn't been tightened to the point that you have to live with your parents continuously for 3 years prior to the date of inheritance. I had the misfortune of studying abroad at the wrong time and thus lost out on the relief. In my opinion, the relief should apply as long as don't own another dwelling house and live in it for a reasonable amount of time after the date of inheritance. If you are rich enough to afford another house, they you don't need the relief and you should be taxed. The proceeds of the tax should be used for housing supports.

Again, I have no objection to paying tax. However, the current policy does not support home ownership. Currently the threshold of €335k, which Sinn Féin wants to reduce to €300k, does not allow you to inherit a house tax free in Dublin. Rents in Dublin are also insanely high cutting into people's ability to save, meaning that for most people their best (if not only) chance to own a house in Dublin is to inherit it.

I know some people who live with their parents in much larger houses than I could ever afford. Said houses are basically split into two large apartments because their parents are rich enough to own a house two families can comfortably live within without encroaching on each other. They will get the benefit of dwelling house relief, while those who cannot stand to live within the same home as their parents (or who have parents who are abusive) lose out. This is arbitrary and unfair.

Irish government policy should be to house the needy, not to remove homes from people who have them. That is all.

Your story seems like an exceptional edge case. I don't think they can build rules around those kinds of cases although there should be some sort of appeals mechanism.

Were you back living in the family home for long at the time you inherited the house?

With capital acquisition tax too there seemingly is no way around it….

unless the parents get a good safe and in their twilight years siphon money out of their account and store cash at home….

I doubt the government could say… “hey, in 2017, Mr and Mrs O’Leary had 80,000”. “Only 30,000 left in bank accounts, now, what gives ?”

a little too big brother to be going around at that lark and looking for receipts for that disparity..

“ gave it away “…. They would be under no obligation to prove otherwise, state can’t track it down and it shall have been ‘given away’ anyway, to next of kin.