139 Deputy John Deasy asked the Tánaiste and Minister for Finance if his attention has been drawn to the difficulties that have arisen as a result of section 116 of the Finance Act 2007 which will have huge tax implications for co-habitating couples in long term relationships where the house owning partner wishes to transfer their property into joint names; if it was his intention that people who may not have great financial resources may now on the death of the house owning partner be levied with high capital acquisition tax on the family home; the plans he has to revisit this section of the Finance Act 2007; if he will introduce an amendment to ensure that partners and children in this situation are protected; and if he will make a statement on the matter. [25758/07]

Summary

139 Deputy John Deasy asked the Tánaiste and Minister for Finance if his attention has been drawn to the difficulties that have arisen as a result of section 116 of the Finance Act 2007 which will have huge tax implications for co-habitating couples in long term relationships where the house owning partner wishes to transfer their property into joint names; if it was his intention that people who may not have great financial resources may now on the death of the house owning partner be levied with high capital acquisition tax on the family home; the plans he has to revisit this section of the Finance Act 2007; if he will introduce an amendment to ensure that partners and children in this situation are protected; and if he will make a statement on the matter. [25758/07]

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Timeline

1. 24 October 2007

   Tax Code.

   139 Deputy John Deasy asked the Tánaiste and Minister for Finance if his attention has been drawn to the difficulties that have arisen as a result of section 116 of the Finance Act 2007 which will have huge tax implications for co-habitating couples in long term relationships where the house owning partner wishes to transfer their property into joint names; if it was his intention that people who may not have great financial resources may now on the death of the house owning partner be levied with high capital acquisition tax on the family home; the plans he has to revisit this section of the Finance Act 2007; if he will introduce an amendment to ensure that partners and children in this situation are protected; and if he will make a statement on the matter. [25758/07]

   Source: written

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• Tax Code.

  xml · EN · 24 October 2007

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Sponsors

• Deasy, John. · Asking member
• Minister for Finance · Minister for Finance · Addressed to

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