Capital Acquisitions Tax (CAT)

Capital Acquisitions Tax

CAT arises when a taxpayer receives a Taxable Gift or Inheritance.

The liability arises for the beneficiary of the gift or inheritance not the donor. The rules regarding what portion, if any, of a Gift or Inheritance is taxable involve consideration of the Relationship between the Donor and Beneficiary together with previous gifts and inheritances received. As such, it is a complex area and professional advice should always be sought.

We can assist taxpayers who have received a Gift or Inheritance and wish to have their liability calculated and accounted for.

We can also provide advice regarding tax planning when drawing up a will.