Capital Gains Tax (CGT) on the sale, gift or exchange of an asset

When and how do you pay and file CGT?

The dates you pay and file CGT are based on the date you sold, gifted or transferred an asset.

When to file your CGT return

You must file your CGT retun on or before 31 October of the year that follows the date of disposal. You must do this even if no tax is due because of reliefs or allowable losses.

When to pay your CGT

For disposals made between:

• 1 January and 30 November (the initial period), you must pay CGT by 15 December of the same year
• and
• 1 December and 31 December (the later period), you must pay CGT by 31 January of the next year.

Note

A late payment will incur an interest charge. A late return will incur a penalty.

For disposals made under a written contract, the time of disposal is usually the date of the contract.

How to pay CGT

If you are:

• not registered for CGT, you must register and pay your CGT online using Revenue Online Service (ROS) or myAccount
• or
• exempt from mandatory efiling you can either:
  • email the Payment Accounting section of the Collector-General’s Division
  • or
  • send payment with the appropriate payslip (CGT Payslip A for the initial period or CGT Payslip B for the later period).

Registering for CGT

You can register for CGT by logging into myAccount or ROS. You can do this by using your tax registration number or Personal Public Service Number (PPSN).

How to register on ROS

If you are a ROS user, you can register for CGT by following these steps:

1. Sign in to ROS.
2. In the 'Other Services' section of the 'My Services' screen, click the 'Manage Tax Registrations' link.
3. Select the 'CGT' category.

How to register on myAccount

If you are a myAccount user, you can register for CGT by following these steps:

1. Sign in to myAccount.
2. Click on 'Tax Registrations’ in the 'Manage My Record’ tile.
3. Select “Register” on the 'CGT' tax type line.

Additional information on accessing the eRegistration service is available at Manage your tax registrations.

How to file your CGT return

There are several different CGT returns:

• Form CG1 – if you do not usually submit annual tax returns or use the online Form 12. The Form CG1 is only available in paper version. For more information on where to request a CG1 form please check the Forms ordering service
• Income Tax Return (Form 12 (paper version) if you are a Pay As You Earn (PAYE) taxpayer who must submit a tax return. You will be unable to report your CGT on an eform 12
• Income Tax Return (Form 11) – if you are self-employed (or have income that is not taxed under PAYE)
• Form 1 – if you are a trust or an estate
• or
• Form CT1 – for a company.

Use ROS to file your Income Tax Return (Form 11), Form 1 or Form CT1. You can post the Form CG1 or Income Tax Return (Form 12) to your Revenue Office.

Information to include on your CGT return

When you complete your CGT return you will need to include:

• a description of asset or assets you disposed of
• the amount you received for the asset or assets
• any reliefs you have claimed
• any unused losses from a prior year that are to be offset
• the chargeable gain (or loss)
• your taxable gain and CGT rate
• and
• the amount of CGT paid (which is paid to the Collector General in advance of the return).

Next: How to calculate CGT