Finance Act, 2001
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Gifts and inheritances taken by foster children. |
221.—The Principal Act is amended by the insertion of the following section after section 59C: | |
“59D.—(1) In this section— | ||
‘the appropriate period’ means periods which together comprised at least 5 years falling within the 18 years immediately following the birth of the donee or successor. | ||
(2) Where, on a claim being made to them in that behalf in relation to a gift or inheritance taken on or after 6 December 2000, the Commissioners are, subject to subsection (3), satisfied— | ||
(a) where the inheritance is taken by a successor on the date of death of the disponer, that the successor had, prior to the date of the inheritance, been placed in the foster care of the disponer under the Child Care (Placement of Children in Foster Care) Regulations, 1995 ( S.I. No. 260 of 1995 ), or the Child Care (Placement of Children with Relatives) Regulations, 1995 ( S.I. No. 261 of 1995 ), or | ||
(b) that throughout the appropriate period the donee or successor— | ||
(i) has resided with the disponer, and | ||
(ii) was under the care of and maintained by the disponer at the disponer's own expense, | ||
then, subject to subsection (3), for the purpose of computing the tax payable on that gift or inheritance, that donee or successor shall be deemed to bear to that disponer the relationship of a child. | ||
(3) Relief under subsection (2) shall not apply where the claim for such relief is based on the uncorroborated testimony of one witness.”. |