| Links from Section 741 | ||
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| Act | Linked to | Context |
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Taxes Consolidation Act, 1997 |
(3) Notwithstanding anything in paragraph (b) of section 573(2), where a person dies and the assets of which he or she was competent to dispose include an asset which is or has at any time been a material interest in a non-qualifying offshore fund, then, for the purposes of this Chapter (other than section 742) that interest shall, immediately before the acquisition referred to in paragraph (a) of section 573(2), be deemed to be disposed of by the deceased for such a consideration as is mentioned in that paragraph; but nothing in this subsection shall affect the determination in accordance with subsection (1) of the question whether that deemed disposal is one to which this Chapter applies. |
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Taxes Consolidation Act, 1997 |
(3) Notwithstanding anything in paragraph (b) of section 573(2), where a person dies and the assets of which he or she was competent to dispose include an asset which is or has at any time been a material interest in a non-qualifying offshore fund, then, for the purposes of this Chapter (other than section 742) that interest shall, immediately before the acquisition referred to in paragraph (a) of section 573(2), be deemed to be disposed of by the deceased for such a consideration as is mentioned in that paragraph; but nothing in this subsection shall affect the determination in accordance with subsection (1) of the question whether that deemed disposal is one to which this Chapter applies. |
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Taxes Consolidation Act, 1997 |
(4) Subject to subsection (3), section 573 shall apply for the purposes of this Chapter as it applies for the purposes of the Capital Gains Tax Acts, and the reference in that subsection to the assets of which a deceased person was competent to dispose shall be construed in accordance with subsection (1) of that section. |
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Taxes Consolidation Act, 1997 |
and, for the purpose of determining whether the asset disposed of is within paragraph (b), subsection (3) of section 584 shall apply as it applies for the purposes of the Capital Gains Tax Acts. |
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Taxes Consolidation Act, 1997 |
(5) Notwithstanding anything in section 586 or 587, in any case where— |
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Taxes Consolidation Act, 1997 |
then, section 586(1) shall not apply for the purposes of this Chapter. |
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Taxes Consolidation Act, 1997 |
(6) In any case where (apart from subsection (5)) section 586(1) would apply, the exchange concerned of shares, debentures or other interests in or of a non-qualifying fund shall for the purposes of this Chapter constitute a disposal of interests in the offshore fund for a consideration equal to their market value at the time of the exchange. |
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Taxes Consolidation Act, 1997 |
(5) Notwithstanding anything in section 586 or 587, in any case where— |
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Taxes Consolidation Act, 1997 |
(2) Subject to subsections (3) to (7) and section 742, there shall be a disposal of an asset for the purposes of this Chapter if there would be such a disposal for the purposes of the Capital Gains Tax Acts. |
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Taxes Consolidation Act, 1997 |
(3) Notwithstanding anything in paragraph (b) of section 573(2), where a person dies and the assets of which he or she was competent to dispose include an asset which is or has at any time been a material interest in a non-qualifying offshore fund, then, for the purposes of this Chapter (other than section 742) that interest shall, immediately before the acquisition referred to in paragraph (a) of section 573(2), be deemed to be disposed of by the deceased for such a consideration as is mentioned in that paragraph; but nothing in this subsection shall affect the determination in accordance with subsection (1) of the question whether that deemed disposal is one to which this Chapter applies. |
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| Links to Section 741 (from within TaxSource Total) | ||
| Act | Linked from | Context |
|
Taxes Consolidation Act, 1997 |
(2) Subject to subsections (2) to (6) of section 741 and paragraph 3, the unindexed gain accruing on a material disposal shall be the amount which would be the gain on that disposal for the purposes of the Capital Gains Tax Acts if it were computed without regard to— |
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Taxes Consolidation Act, 1997 |
“disposal” shall be construed in accordance with section 741(2); |
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Taxes Consolidation Act, 1997 |
(3) Without prejudice to section 741(1), this Chapter shall apply, subject to subsections (4) to (6), to a disposal by any person of an asset if— |
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Taxes Consolidation Act, 1997 |
(b) the fund is not and has not at any material time (within the meaning of section 741(7)) been a non-qualifying offshore fund, and |
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Taxes Consolidation Act, 1997 |
(6) Where the disposal to which this Chapter applies constitutes such a disposal by virtue of section 741(6) or 742(5), the Capital Gains Tax Acts shall apply as if an amount equal to the offshore income gain to which the disposal gives rise were given (by the person making the exchange concerned) as consideration for the new holding (within the meaning of section 584(1)). |
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Taxes Consolidation Act, 1997 |
(3) Subsections (2) to (7) of section 741 shall apply for the purposes of this section as if references in those subsections to a non-qualifying offshore fund were references to an offshore fund. |
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