Tax Loophole Allows rich to buy €1m homes for children

[slasher]

irishtimes.com/news/politics … -1.2844028

Ms Collins said families were using the Dwelling House Exemption Section 86 relief “where second and in some cases third and fourth homes are being bought for children, often for over €1 million.
“And if children live in these homes for a particular period of time they can inherit them tax free when their parents die.”
She said “tax experts say well-heeled people are now gifting houses worth €1 million and over to their children and using the tax exemption to avoid tax.
“And many people are breaking the rules of the relief by renting out their properties.”
The number of people claiming the relief had risen from almost 500 in 2012 to 741 last year, she added.
The tax relief was introduced in 2000 and Ms Collins said “the abuse of this scheme has been a concern of Revenue for years”.

She’s not wrong?
Another exemption roundly abused?

[Coles2]

It’s not a loophole; it’s a feature.

[FTBer]

Agreed - if they really wanted to prevent it, the tax law would be changed.
If they really wanted to stop abuse of it, the Revenue could profile using REAP for it.

Neither has happened.

[Dubhgeannain]

Cropped up in this thread previously:

viewtopic.php?f=4&t=66000