Retirement Relief
01/07/2002
Query
Time of the Disposal of Assets for Relief purposes.
Decision
Where due to a delay in the commencement of trading on the part of a purchaser of the assets of a business, a person availing of Retirement Relief continues trading in that business for a period of not more that 3 months after the date of the contract under which the assets of the business are to be disposed, the time of disposal may be taken, notwithstanding the provisions of Section 542, Taxes Consolidated Act, 1997, as the time at which the person ceaces trading.
Capital Gains Tax
Section 598(2)(a) and 542, Taxes Consolidation Act, 1997
Origin: Direct Taxes Policy & Legislation Division
File ref:PS 5055/02