Monday 29 May 2017

One-child families living in Dublin are hardest hit

Property prices have risen strongly in urban areas in the past few years
Property prices have risen strongly in urban areas in the past few years

People in urban areas - and Dublin in particular - are bearing the brunt of the inheritance tax trap. The first €225,000 of an inheritance from parents to a son or daughter is tax-free.

But with most houses in urban areas worth more than this, those inheriting a house end up being liable for a tax bill. The tax is levied at 33pc for amounts over the threshold.

This is particularly a problem for one-child families.

Property prices have risen strongly in urban areas in the past few years. Dublin prices rose by 20pc in the year to April, and have now been for almost two years.

Irish Independent

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