Group I Children, including adopted children, under the age of 21
Group II All other descendants, spouses and parents
Group III Close relatives such as brothers and sisters, grandparents, aunts and uncles
Group IV More distant relatives
The exemptions offered by the state have been extended as follows:
Group I Deduction of E275,000 plus E33,000 for each year under 21 years of age up to E539,000
Group II Spouse: E500,000; Child: E275,000; Other Descendants: E150,000; Parents: E100,000
Group III E50,000
Group IV No discount available
The deductions available to Group I & II beneficiaries shall be reduced by 50% should they also avail of any of the other deductions available such as for the family home or the family business.
Special Deductions
In addition to any personal deductions applicable a beneficiary who is disabled may add an additional E275,000 deduction if the disability is determined to be of a degree greater than 33% or E650,000 where it is greater than 65%.
A deduction of E275,000 may be applied where the heir is over 75 years of age though this deduction is incompatible with earlier deductions.
Where a property inherited is the main family home then a reduction amounting to 95% of the value of the property up to E500,000 may be made per beneficiary if the spouse, child or parent of the deceased.
A tax deduction of 95% of the value of the interest held by the deceased in the business. This applies to all beneficiaries who were related to the deceased to