Capital Gains Tax
Capital Gains Tax (CGT) is chargeable on gains arising on the disposal of assets, other than that part of a gain which arose in the period prior to 6 April 1974. Any form of property (other than Irish currency) including an interest in property (as, for example, a lease) is an asset for CGT purposes.
Rate of Tax
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%
- from 7 December 2011 to 5 December 2012 - 30%
- from 8 April 2009 to 6 December 2011 - 25%
- from 15 October 2008 to 7 April 2009 - 22%
- made on or before 14 October 2008 - 20%
The first €1,270 of an individual’s annual chargeable gains, net of allowable losses, is exempt.