Gift duty going
Dunne said considerable work had taken place since plans to scrap the duty were first flagged earlier this year.
"This work has revealed that the protection that gift duty offers in the areas of income tax, creditors and social assistance has only ever been incidental and very limited," he said.
"The limited protection that gift duty offers does not outweigh the significant compliance costs, estimated at $70 million per year that gift duty imposes on the private sector."
A number of arguments weighed in favour of scrapping gift duty, including the fact it slows down the transfer of assets to children and family trusts and the ease with which it could be avoided through gifting programmes.
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