Wed Oct 02 15:30:01 UTC 2024: ## Irish Times Readers Focus on Inheritance Tax and Welfare in Post-Budget Q&A
**Dublin, Ireland** – Inheritance tax and welfare changes were the top priorities for Irish Times readers during a post-Budget 2025 question and answer session on Wednesday. Over 300 readers contacted the publication seeking clarification on a wide range of issues.
The new inheritance tax regime, which sees the introduction of higher tax-free thresholds for the first time in five years, generated significant interest. Readers wanted to know when the new thresholds would take effect, and whether those who have inherited from deceased relatives in recent months or years would benefit.
The new thresholds came into force on Wednesday, October 2nd. Children can now inherit up to €400,000 from parents before paying tax, while the limit for siblings, aunts, uncles, grandparents and great-grandparents is €40,000, and €20,000 for all other relatives. Importantly, the new thresholds are not backdated, meaning anyone whose relative died before October 2nd will still be subject to the older tax rates.
Welfare payments also drew considerable attention, with readers eager to confirm the exact amount and timing of their increase. While most payments will increase in January, the lump sum and double weekly payments for long-term beneficiaries are expected to arrive in November and October, respectively. Specific dates are still to be announced by Minister for Social Protection Heather Humphreys.
The child benefit packages for expectant parents sparked some disappointment, as those with December due dates will miss out on the double payment in November and December and the newborn baby grant, which only applies to children born from the start of 2025.
The budget’s promises on childcare costs also generated confusion. Minister for Public Expenditure and Reform Paschal Donohoe had stated that a further increase in funding for the National Childcare Scheme would lead to an additional €1,100 reduction in full-time childcare costs next year. However, officials clarified that the budget did not include any new funding to reduce childcare costs and that the money will be used to fund a previously announced increase in the subsidy, leading to a reduction in costs last September.
Other areas of interest included the 6% “mansion tax” stamp duty rate on property purchases over €1.5 million, and the new €1,500 tax-free small benefit exemption for employees, which readers were eager to confirm would apply in 2024 or 2025.
The Q&A session also highlighted readers’ concern over what was absent from the budget, including the lack of an increase in income tax exemption limits for pensioners, means test limits for medical cards, and any new green incentives beyond the VAT reduction on heat pump installations.
The overall response from Irish Times readers demonstrates the keen interest in understanding the budget’s impact on their personal finances.
First Piper 