Fairness and equity need to apply to the inheritance tax system for those who are childless
Sir, – The recent Government announcement to increase the inheritance tax exemption threshold from €335,000 to €400,000 for children is to be welcomed.
We have witnessed a range of legislation in recent times on individual rights and social justice and the traditional family unit. Yet it is remarkable that if you remain childless your estate upon your death will be taxed significantly more than your fellow citizens who were blessed with children. Danish guitarist Jakob Bro on Paul Motian: ‘It was the most surreal thing ever, like calling someone from a different planet’If you are childless, whether by choice or not, and wish to leave your estate to your brother or sister, or your niece or nephew, the tax-free threshold is currently just €40,000. Anything above this is taxed at 33 per cent. .
Yet if you work hard, pay all your taxes, remain single or childless in this country, you receive little during your lifetime. Then upon your death, your already taxed estate will be taxed at a higher rate than your fellow citizens who have children. This cannot be fair.
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