1. Plan to cut or scrap inheritance tax
Tax changes promised in the Government programme for partnership will sharply cut or eliminate completely inheritance tax for thousands of people in the coming years. Under the changes, once they are implemented, children inheriting the family home will not pay tax on the first €500,000 value of the estate, which should mean the majority of bequests will not prompt tax demands. However, while the Government is planning to raise the threshold, it is not proposing to cut the 33 per cent tax rate applied to bequests over the threshold.This rate increased in 2009 from 20 per cent. In the last budget, Minister for Finance Michael Noonan increased the thresholds – which had fallen after the economic crisis broke in 2008 – from €225,000 to €280,000.
2. Unclaimed €8.2m winner hits out at National Lottery
The person purporting to have the winning ticket to an unclaimed €8.2 million lotto jackpot from March has criticised the National Lottery for disclosing details of the case to the media, suggesting its actions may need to be examined by the regulator. In a solicitor's letter, lawyers for the individual claim the actions of the operator, Premier Lotteries Ireland (PLI), in revealing the jackpot had not been paid and that it was engaging with the ticketholder had "fuelled speculation and rumour" as to the identity of the winner and the reasons for non-payment. "Our client is disappointed that PLI, the licensed operator of the National Lottery has seen fit to make any comments about this matter since our client presented to them and made it clear from the outset that confidentiality and anonymity was required," the letter said. The €20 winning ticket, with numbers chosen voluntarily rather than through a quickpick, was purchased at a store in Sligo town. While the franchise has so far declined to explain why the money has been withheld, sources at the National Lottery previously indicated the jackpot would be paid.
3. Online gamer died during ‘mission’ on Poolbeg Pier
A player of an online game requiring physical visits to landmark sites died during a late-night mission, an inquest in Dublin has heard. Frank Maxwell (48), of Portacarran, Oughterard, Co Galway, was playing Ingress, an augmented reality game that involves "capturing" landmark buildings, or "portals", for points, when he died. Mr Maxwell, a father-of-one who was originally from Dublin and worked in the capital during the week, was found in the water next to Poolbeg Pier at about noon on September 25th last.
4. Threat to 2,200 jobs at Debenhams
The Debenhams retail chain has placed its 11 Irish stores into examinership, putting 2,265 jobs at risk, following the failure of rent negotiations with its landlords, including the Roche family that once owned Roches Stores. Kieran Wallace of KPMG was appointed by the High Court yesterday as interim examiner to Debenhams Retail (Ireland), following an application from the company for court protection. Debenhams reassured staff and customers at its stores that it was "business as usual" during the period of court protection, which can last up to 100 days. It told the court, however, that the alternative to examinership is liquidation with a deficit of €264 million. The crux of Debenhams' difficulties lie in rents set during boom years on upward-only leases. The examiner is expected to seek talks with its landlords to get a reduction in Debenhams' annual rent bill of €25 million, which it complained "substantially exceeds" market rates.
5. ‘Sunlight’ fails to shine on Nicky Byrne at Eurovision
Nicky Byrne has expressed his disappointment having failed to make it through to the final of the Eurovision song contest with his song Sunlight. "Obviously I'm disappointed," the former Westlife singer said. "I really would have loved to represent Ireland at the final on Saturday, but sometimes things just don't work out the way you want them to." Earlier in the week he said, "no matter what happens I'll remember this experience until the day I die." Byrne had expressed the hope that he would be Eurovision 2016's Leicester City, but he turned out to be Aston Villa after all. If you are disappointed at least you can vote for your favourite Irish entry down through the years from Luv Bug to Jedward on irishtimes.com.
WEATHER: Sunny weekend ahead with temperatures to hit 23 degrees. Met Éireann is predicting long spells of sunshine and warm days into early next week
Misc
A royal faux pas at Queen Elizabeth's garden party: Invitation to tea at Buckingham Palace includes rules on what to wear
'Star Wars' reawakens in secure Donegal shoot: Close-up images of a set for the next Star Wars movie looks set to spark debate among devotees of the science-fiction saga.
Irish struggle to identify bargain: Irish people who think they can spot a bargain when they see one are most probably deluding themselves, according to a research into consumer behaviour published today
Luas service at standstill as drivers resume strike action: Transdev says employees have 'one last opportunity' to resolve ongoing dispute
Shane Long's fine form the key for Martin O'Neill: Winger Callum O'Dowda gets surprise call-up to preliminary squad for Euro 2016
Dublin's new jersey expected to become biggest seller in GAA history: Over 55,000 shirts are expected to be sold in 2016
Patrick Stewart on shouting, playing a Nazi and elocution with Brian Blessed: Beloved for his Jean-Luc Picard in 'ST:TNG', the Shakespearean star now plays a scarifying neo-Nazi skinhead in the hit thriller 'Green Room'. And why not? 'I know I'm known for screaming and shouting'