Dear Editor,
Both Maria Murphy and your writer Joanne Hunt illustrated eloquently the gross bias, irregularities, and prejudice towards single people without children and childless widows enshrined in our laws relating to inheritance tax, in their letters dated October 23rd. It’s important to note that this valid critique of the tax also extends to numerous relatives, co-residents, and friends who may find themselves named as beneficiaries in a will.
Earlier in July, our group drafted a detailed petition to the Minister for Finance, Jack Chambers, advocating for the termination of the tax, laying bare the egregious inequities embodied in it. As Hunt outlined, a number of countries including Austria, Estonia, Malta, Latvia, Norway, Romania, Slovakia, and Sweden have all abolished inheritance tax.
Despite our pleas for abolition, or at least for its comprehensive review, the Government has remained passive on the issue, except for some small modifications to the taxation thresholds in the recent budget. It’s evident that on this subject, all political groups and most Independent TDs are quite detached from public sentiment. Recent public interactions have indicated a substantial majority in favour of abolishing inheritance tax.
Murphy proposes that inheritance tax should be a crucial talking point in the imminent general election. I am committed to pushing this agenda.
Kind regards,
ALAN SHATTER,
Chairman,
Inheritance Tax Reform Campaign,
Dublin 16.
On a separate note, while reviewing Wednesday’s edition of your publication, I was struck by the different labels used in two distinct articles to frame people who lack children. Maria Murphy, in her letter dated October 23rd, uses “childless”, whereas Joanne Hunt, in her ‘Money Matters’ segment on the same date, opts for “child-free”. I perceive the former as slightly judgmental, whilst the latter implies a decision made willingly. I’ve chosen to adopt the term “child-free” when referencing such individuals.
Best Wishes,
PAT QUINN,
Inchicore,
Dublin 8.
Lastly, I must draw attention to the ongoing discussion in your publication concerning “inheritance tax” (Letters, October 23rd). It is imperative to clarify that Ireland does not impose an inheritance tax but levies a capital acquisition tax instead.
The tax under consideration applies universally to any capital gains, regardless of whether they are acquired through inheritance or gifts. Essentially, it functions as a levy on the recipients of unearned capital, cumulatively accumulating throughout one’s lifespan.
The tax is prominently forward-thinking and progressive in nature.
However, the constant attention on the tax-free limit for children regarding inheritance often leads to confusion about the taxation system, including its merits and potential drawbacks for both society and the individual. Those engaged in these discussions, commentators and media alike, should put aside the sentimental rhetoric of inheritance, and instead place emphasis on a broader understanding of individual wealth accumulation.
Yours sincerely,
NIALL WALSH,
Dublin 18.