The Dáil has heard calls from a Sligo TD seeking a reduction in capital gains tax for families passing homes to their children.

Deputy Eamon Scanlon made the calls stating that in cases where parents are not financially benefiting from such transactions there should be exempt from the charge.

The Fianna Fail TD cheques and balances such as the recipient of the property having to live it in for a period of ten years would ensure that the exemption would not be exploited.

Responding on behalf of the Finance Minister, Minister of State at the Department of Further and Higher Education, Research, Innovation and Science Marian Harkin outlined how captain gains tax paid an important part of the tax system in this country.

She claims reducing it's remit could lead to the higher PAYE tax on workers.

The Sligo based Junior Minister also warned that it would be difficult to reduce capital gains taxes for parents hat wished to pass should properties on to their children.

The D&aacute;il has heard calls from a Sligo TD seeking a reduction in capital gains tax for families passing homes to their children.
Deputy Eamon Scanlon made the calls stating that in cases where parents are not financially benefiting from such transactions there should be exempt from the charge.
The Fianna Fail TD cheques and balances such as the recipient of the property having to live it in for a period of ten years would ensure that the exemption would not be exploited.
Responding on behalf of the Finance Minister, Minister of State at the Department of Further and Higher Education, Research, Innovation and Science Marian Harkin outlined how captain gains tax paid an important part of the tax system in this country.
She claims reducing it's remit could lead to the higher PAYE tax on workers.
The Sligo based Junior Minister also warned that it would be difficult to reduce capital gains taxes for parents hat wished to pass should properties on to their children.

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