Transferring an asset (Capital Gains Tax – CGT)
CGT Clearance Certificate (CG50A)
You require a CG50A certificate if:
- you sell an asset on or after 25 March 2002 for over €500,000
- you sell a house or apartment on or after 1 January 2016 for over €1 million.
The buyer is obliged to withhold 15% of the purchase price from you if you do not have a CG50A Form. This is known as Section 980. The buyer will then provide you with a Form CG50B. This will allow you to reclaim the amount withheld by them from Revenue at a later date.
You can apply for a CG50A using a Form CG50.
To get a CG50A Form from us you must meet at least one of the following criteria:
- be resident in this country
- have paid CGT on the disposal, if it is due.
Alternatively, you can use the following Tax Clearance Certificates:
- a current Tax Clearance Certificate
- a certificate of authorisation (C2 cert)
- a Tax Clearance Certificate issued specifically for the purpose of Section 980, Taxes Consolidation Act 1997.