Capital Acquisitions Tax Consolidation Act 2003 section 96

Succession

Section 96 provides that where business property is inherited on the death of another person, the disponer's ownership period is deemed to begin on the date of that death, for the purposes of the minimum ownership requirements in sections 94 and 95.

• This section applies to the five-year and two-year minimum ownership periods required under sections 94 and 95 for business property relief.
• Where a disponer became beneficially entitled to property on the death of another person, the ownership period is backdated to the date of that death.
• The disponer is deemed to have been beneficially entitled to the property from the date of death, not from any later date such as the date of grant of probate or the date of transfer.
• This ensures that inherited business property can qualify for relief without the disponer having to wait a further five or two years from the date they actually received the property.