Capital Gains Tax FAQs
Capital Gains Tax (CGT) is a tax on gains arising on the disposal of assets. A disposal means a transfer of ownership in an asset whether by means of sale, gift, exchange or otherwise and includes a part disposal of an asset.
Who is liable to pay Capital Gains Tax?
- If you are resident or ordinarily resident, and domiciled in the State you are liable on worldwide gains.
- If you are neither resident nor ordinarily resident you are liable on gains on the disposal of specified assets.
- If you are resident or ordinarily resident in the State but not domiciled you are liable on gains from the disposal of Irish situated assets in full and on gains from the disposal of foreign assets to the extent that the gains are remitted into the State.
Explanations of the terms residence, ordinary residence, domicile and specified assets is available at page four of the CGT Guide. (PDF, 942KB)
What CGT arises on death?
None, the assets are deemed to be acquired by the beneficiaries (or the personal representative) at market value at date of death. Any gains arising on a subsequent disposal attracts CGT on the difference between the market value at date of death and the subsequent proceeds or the market value as appropriate.
- Chargeable Assets
- Calculating CGT
- Main Exemptions & Reliefs
- CGT Payments & Returns
- Disposal of Property
- Transfer of Assets to Spouse or Civil Partner