CAPITAL GAINS TAX IRELAND

 

Capital Tax Rates
The standard rate in respect of disposals is determined based on the date on which the disposal was made as follows:

  • Disposals made from 6 December 2012 – 33%
  • Disposals made from 7 December 2011 to 5 December 2012 – 30%
  • Disposals made from 8 April 2009 to 6 December 2011 – 25%
  • Disposals made from 15 October 2008 to 7 April 2009 – 22%
  • Disposals made made on or before 14 October 2008 – 20%
  • The first 1,270 Euro of an individual’s annual chargeable gains, net of allowable losses, is exempt.
What is Capital Gains Tax?
CGT is a tax on a capital gain arising on the disposal of assets owned by you. At its simplest, deducting the price you paid for an asset when you acquired it from the sale proceeds when you dispose of it gives you the chargeable capital gain.In calculating the amount of tax payable, deductions are allowable for incidental costs of acquisition, such as solicitor’s fees, stamp duty etc. and incidental costs of disposal such as, solicitors/auctioneers fees etc. In addition, where an asset was acquired before 2003, inflation relief may be available, effectively adjusting the cost in line with a published inflation factor.
Are any Gains exempt from CGT?
Gains on the disposal of some assets are specifically exempted from CGT. These include: Read more
Disclaimer: Whilst every effort has been made to ensure the accuracy and reliability of the information published within this website, you choose to use this information and rely on any results at your own risk. We will not under any circumstances accept responsibility or liability for any losses that may arise from a decision that you may make from the use of, or reliance on this information.