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Amendment of section 86 (exemption relating to certain dwellings) of Principal Act.
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116.— (1) Section 86 of the Principal Act is amended by inserting the following after subsection (3):
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“(3A) For the purposes of subsection (3)(a), in the case of a gift―
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(a) any period during which a donee occupied a dwelling house that was, during that period, the disponer’s only or main residence, shall be treated as not being a period during which the donee occupied the dwelling house unless the disponer is compelled, by reason of old age or infirmity, to depend on the services of the donee for that period,
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(b) where paragraph (a)(i) of subsection (3) applies, the dwelling house referred to in that paragraph is required to be owned by the disponer during the 3 year period referred to in that paragraph, and
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(c) where paragraph (a)(ii) of subsection (3) applies, either the dwelling house or the other property referred to in that paragraph is required to be owned by the disponer during the 3 year period referred to in that paragraph.”.
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(2) This section applies to gifts taken on or after 20 February 2007.
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