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Capital Acquisitions Tax Act, 1976
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Provisions relating to charities, etc.

54.—(1) Any benefit taken by a person for public or charitable purposes shall, for the purposes of sections 5 (1) and 11 (1), be deemed to be taken beneficially by a person who is other than a donee or successor referred to in Table I, II or III of Part II of the Second Schedule.

(2) A gift or an inheritance which is taken for public or charitable purposes shall, to the extent that the Commissioners are satisfied that it has been or will be applied to public or charitable purposes in the State or Northern Ireland, be exempt from tax and shall not be taken into account in computing tax.

(3) Save as provided in section 56 (4), a gift or inheritance which a person takes on becoming entitled to any benefit on the application to public or charitable purposes of property (including moneys provided by the Oireachtas or a local authority) held for such purposes shall be exempt from tax and shall not be taken into account in computing tax.