Latest news with #Inheritance
Extra.ie
4 days ago
- Politics
- Extra.ie
Call for end to ‘unfair' inheritance tax laws for childless people
A campaign has been launched to end discrimination against people without children in inheritance tax. Parents can leave up to €400,000 to children before tax kicks in, but the threshold is €40,000 in bequests to anyone else. End Discrimination in Inheritance Tax for Childless Citizens (EDIT) said childless people and members of the LGBTQI community are being unfairly isolated because of laws that have not been updated since same-sex marriage legislation was introduced in 2015. Inheritance Tax: Pic: Getty Images EDIT spokesman James Sexton said: 'If a parent passes a property on to a son or daughter, the inheritance tax threshold kicks in on a building valued at €400,000. However, if a childless couple or single person passes a property on to a niece or nephew, the inheritance tax kicks in at €40,000.' He said existing tax law is blatantly discriminatory against couples who, through no fault of their own, have been unable to have children. Mr Sexton added: 'This is grossly unfair. Me and my wife and others, are facing a situation whereby, when the time comes to pass on the property to a niece and a nephew, because of the €40,000 tax threshold, the respective niece will, in all likelihood, have to sell the property because they won't be able to afford the tax bill. inheritance tax. Pic: Getty Images 'This scenario is resulting in very upsetting situations whereby if a house has been in the family name for 100 years or more, the sale of the property will end the family link with the respective property and association with that particular location.' He added that heterosexual people are not the only ones affected by this 'outdated and unfair' tax measure. The inheritance tax law is thought to affect more than one million people and, in particular, members of the LGBTQI community. Speaking to Gay Community News recently, Mr Sexton said: 'This is unconstitutional, inequitable and discriminatory. This needs to change. Our equal status legislation is meant to prevent discrimination on the grounds of family status.' Independent TD Michael Collins. Pic: Liam McBurney/PA Wire Independent Ireland leader Michael Collins said: 'We've raised this issue in the Dáil numerous times. It's an awful situation. Individuals who inherit a property from a childless uncle or aunt are facing an exorbitant tax bill, with the result that most are left with no option but to sell, and for everyone involved except the taxman, this can be heartbreaking, costly, and ultimately can end the family connection with a location. 'It seems people in Government aren't listening or don't care. We [Independent Ireland] have raised this in the Dáil numerous times, and we aim to introduce a Bill to address this matter in advance of the budget. It's one we're working on already. 'For a working person with no children, or members of the gay community, this affects so many people. There has to be a fair understanding by the Government. This mightn't happen overnight, but the Government needs to do something to address this issue that affects so many people.' EDIT has made two presentations in Leinster House before TDs and senators this year. The organisation has also highlighted the matter with Taoiseach Micheál Martin. A Department of Finance spokesman said: 'The department cannot comment in advance on any tax matters that might be the subject of budget decisions.' The rules governing farm land inheritance tax were recently relaxed to avoid farms being carved up to pay the tax bill. However, the change led to a surge in the price of farmland as people invested in it to avoid inheritance tax bills for their children.
Leader Live
7 days ago
- Entertainment
- Leader Live
Elizabeth Hurley buried in a coffin in teaser for new reality show on Channel 4
The Inheritance sees 13 strangers summoned to a stately home to compete for part of the fortune left in the will of Hurley's character 'the Deceased'. In a new clip Hurley, 60, is seen lying in her grave surrounded by mourners and items of value, as she says: 'I'm dying to see what happens.' Overseeing the stipulations of the Deceased's will is her executor, Robert Rinder, a criminal barrister who fronted the ITV show Judge Rinder. To win the money the players need to fulfil a series of final requests, as stipulated in the Deceased's will. However, only one player can claim the money gained in each request, so it's up to one of them to persuade the others that they alone deserve the cash they earned together. Hurley is most known on the big screen for playing Vanessa Kensington in the Austin Powers films and has also starred in 2000's Bedazzled and TV series Gossip Girl. The Inheritance is a 12-episode series co-produced by Studio Lambert and GroupM Motion Entertainment. Transmission details are yet to be announced.
RTÉ News
7 days ago
- Entertainment
- RTÉ News
Elizabeth Hurley buried in a coffin in teaser for new reality show on Channel 4
Actress Elizabeth Hurley is seen lying in a coffin in the ground in a first-look teaser for a new immersive reality series on Channel 4. The Inheritance sees 13 strangers summoned to a stately home to compete for part of the fortune left in the will of Hurley's character "the Deceased". In a new clip Hurley, 60, is seen lying in her grave surrounded by mourners and items of value, as she says: "I'm dying to see what happens." Overseeing the stipulations of the Deceased's will is her executor, Robert Rinder, a criminal barrister who fronted the ITV show Judge Rinder. To win the money the players need to fulfil a series of final requests, as stipulated in the Deceased's will. However, only one player can claim the money gained in each request, so it's up to one of them to persuade the others that they alone deserve the cash they earned together. Hurley is most known on the big screen for playing Vanessa Kensington in the Austin Powers films and has also starred in 2000's Bedazzled and TV series Gossip Girl. The Inheritance
South Wales Guardian
7 days ago
- Entertainment
- South Wales Guardian
Elizabeth Hurley buried in a coffin in teaser for new reality show on Channel 4
The Inheritance sees 13 strangers summoned to a stately home to compete for part of the fortune left in the will of Hurley's character 'the Deceased'. In a new clip Hurley, 60, is seen lying in her grave surrounded by mourners and items of value, as she says: 'I'm dying to see what happens.' Overseeing the stipulations of the Deceased's will is her executor, Robert Rinder, a criminal barrister who fronted the ITV show Judge Rinder. To win the money the players need to fulfil a series of final requests, as stipulated in the Deceased's will. However, only one player can claim the money gained in each request, so it's up to one of them to persuade the others that they alone deserve the cash they earned together. Hurley is most known on the big screen for playing Vanessa Kensington in the Austin Powers films and has also starred in 2000's Bedazzled and TV series Gossip Girl. The Inheritance is a 12-episode series co-produced by Studio Lambert and GroupM Motion Entertainment. Transmission details are yet to be announced.
Rhyl Journal
7 days ago
- Entertainment
- Rhyl Journal
Elizabeth Hurley buried in a coffin in teaser for new reality show on Channel 4
The Inheritance sees 13 strangers summoned to a stately home to compete for part of the fortune left in the will of Hurley's character 'the Deceased'. In a new clip Hurley, 60, is seen lying in her grave surrounded by mourners and items of value, as she says: 'I'm dying to see what happens.' Overseeing the stipulations of the Deceased's will is her executor, Robert Rinder, a criminal barrister who fronted the ITV show Judge Rinder. To win the money the players need to fulfil a series of final requests, as stipulated in the Deceased's will. However, only one player can claim the money gained in each request, so it's up to one of them to persuade the others that they alone deserve the cash they earned together. Hurley is most known on the big screen for playing Vanessa Kensington in the Austin Powers films and has also starred in 2000's Bedazzled and TV series Gossip Girl. The Inheritance is a 12-episode series co-produced by Studio Lambert and GroupM Motion Entertainment. Transmission details are yet to be announced.
