Taxes Consolidation Act 1997 section 799

Interpretation (Chapter 1)

Section 799 defines and explains the key terms used throughout the Chapter dealing with the taxation of estates of deceased persons.

• Defines "personal representative", "Irish estate", "foreign estate", "specific disposition", and "charges on residue" for the purposes of the Chapter.
• The aggregate income of the estate for any year of assessment means all income from all sources accruing to the personal representatives, comprising income chargeable to Irish income tax and income that would have been so chargeable had it arisen in the State to a resident person.
• A beneficiary has an absolute interest in the residue if entitled to the capital, or a limited interest if entitled only to the income of the residue for a set period.
• Where different parts of the estate are subject to different residuary dispositions, the Chapter applies separately to each part, with references to the estate and to the personal representatives adapted accordingly.