SPIA - disposal to SPIA held by spouse
15/03/1996
Query
Whether disposal of shares by one spouse to the designated broker for a SPIA held in the name of the other spouse would be exempt in accordance with section 1028(5) tca 1997
Decision
The disposal of shares by an individual to a designated broker acting as trustee for a SPIA which is beneficially owned by that individual’s spouse would not be regarded as a disposal to that individual’s spouse. The disposal would be an occasion of charge to CGT by reference to the market value of the assets in question
Capital Gains Tax
Section 1028, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:IT962000