skip to main content

38% of adults have received a substantial gift or inheritance

81% of recipient had received money
81% of recipient had received money

More than a third of adults here have received a substantial gift or inheritance, new research has found.

The survey, conducted by Amárach on behalf of Banking and Payments Federation Ireland (BPFI), also found that among those, approximately one third used it to help them buy or build their own home.

Parents were the most common source of the gift or inheritance, accounting for 70%, followed by other relatives who were cited by 23% and grandparents who were referenced by 16%.

81% of recipients had received money, with 22% getting a dwelling and 11% land.

More than one in three Irish adults expect to receive a substantial gift or inheritance in the future, the survey, which was carried out among 1,000 adults in July, also found.

That expectation is higher among younger cohorts, those of a higher socio-economic class and those who have received a gift or inheritance in the past.

Respondents said that parents are the primary expected donors for future gifts or inheritances, emphasising the continuing role of intergenerational support within families.

The data comes as the Government comes under pressure to make changes to inheritance tax rules in the Budget.

The rules are seen by many as too restrictive given the extent to which asset values, particularly property, have risen since they were set.

The Minister for Finance, Jack Chambers, has ruled out abolishing inheritance tax.

However, it is expected that the tax-free threshold which applies to children inheriting from parents could increase from €335,000 currently to €400,000.