69 Exemption of small gifts.

[CATA 1976 s53(1), (2) and (4)]

(1) In this section, “relevant period” means the period of 12 months ending on 31 December in each year.

(2) The first ^[1]>€1,270^<[1][1]>€3,000^<[1] of the total taxable value of all taxable gifts taken by a donee from any one disponer in any relevant period is exempt from tax and is not taken into account in computing tax.

(3) In the case of a gift which becomes an inheritance by reason of its being taken under a disposition where the date of the disposition is within 2 years prior to the death of the disponer, the same relief is granted in respect of that inheritance under subsection (2) as if it were a gift.