Capital Acquisitions Tax Consolidation Act 2003 section 4

Charge of gift tax

Section 4 imposes the charge to gift tax on the taxable value of every taxable gift taken by a donee (beneficiary).

• Gift tax is a capital acquisitions tax charged on the taxable value of every taxable gift received by a donee.
• The tax applies to gifts where the date of the gift is on or after 28 February 1974.
• The taxable value of a gift is determined in accordance with section 28, and whether a gift is a taxable gift is determined under section 6.
• The charge is subject to the other provisions of the Act and any regulations made under it.