In Ireland , if you bequeath your life savings unto your child, the state is like *yoink 40% of that is mine*.
Discussion
Fucking gross
https://www.citizensinformation.ie/en/money-and-tax/tax/capital-taxes/capital-gains-tax/
If you make a profit or gain when you dispose of an asset, you pay Capital Gains Tax (CGT) on the chargeable gain.
You dispose of an asset when you:
Sell it
Give it as a gift
Exchange it
Get compensation or insurance for it
The standard rate of Capital Gains Tax is 33% of the chargeable gain you make.