Taxes Consolidation Act, 1997 (Number 39 of 1997)
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649A Relevant disposals: rate of charge.
Notwithstanding subsection (3) of section 28, the rate of capital gains tax in respect of chargeable gains accruing to a person on relevant disposals, other than a relevant disposal to which section 650 refers, shall be 40 per cent.
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649A Relevant disposals: rate of charge.
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(1) Notwithstanding subsection (3) of section 28, and subject to subsection (2), the rate of capital gains tax in respect of a chargeable gain accruing to a person on a relevant disposal shall be—
(a) subject to paragraph (b), in the case of a disposal on or after the 3rd day of December, 1997, 40 per cent, and
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(b) in the case of a disposal, on or after the 6th day of April, 2002, of land which, in accordance with a development objective (as indicated in the development plan of the planning authority concerned), is for use solely or primarily for residential purposes, 60 per cent.
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(2) (a) Subsection (1) shall not apply to a relevant disposal to which this subsection applies and accordingly, the rate of capital gains tax in respect of a chargeable gain on such a relevant disposal shall be the rate specified in subsection (3) of section 28.
(b) This subsection shall apply to a relevant disposal—
(i) to which section 650 refers, or
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(ii) being a disposal, at any time in the period beginning on the 23rd day of April, 1998, and ending on the 5th day of April, 2002, of land—
(I) to a housing authority (within the meaning of section 23 of the Housing (Miscellaneous Provisions) Act, 1992), which land is specified in a certificate in writing given by the housing authority as land being required by the housing authority for the purposes of the Housing Acts, 1966 to 1997, or
(II) in respect of the whole of which, at the time at which the disposal is made, permission for residential development has been granted under section 26 of the Local Government (Planning and Development) Act, 1963, and such permission has not ceased to exist, other than a disposal—
(A) by any person (“the disponer”) to a person who is connected with the disponer, or
(B) of land under a relevant contract in relation to the disposal.
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(ii) being a disposal, at any time in the period beginning on the 10th day of March, 1999, and ending on the 5th day of April, 2002, of land—
(I) to—
(A) a housing authority (within the meaning of section 23 of the Housing (Miscellaneous Provisions) Act, 1992),
(B) the National Building Agency Limited (being the company referred to in section 1 of the National Building Agency Limited Act, 1963), or
(C) a body standing approved of for the purposes of section 6 of the Housing (Miscellaneous Provisions) Act, 1992,
which land is specified in a certificate in writing given by a housing authority or the National Building Agency Limited, as appropriate, as land being required for the purposes of the Housing Acts, 1966 to 1998,
(II) in respect of the whole of which, at the time at which the disposal is made, permission for residential development has been granted under section 26 of the Local Government (Planning and Development) Act, 1963, and such permission has not ceased to exist, other than a disposal to which paragraph (c) applies, or
(III) in respect of the whole of which, at the time at which the disposal is made, is, in accordance with a development objective (as indicated in the development plan of the planning authority concerned), for use solely or primarily for residential purposes, other than a disposal to which paragraph (c) applies.
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(c)This paragraph applies to a relevant disposal being a disposal—
(i)by any person (“the disponer”) to a person who is connected with the disponer, or
(ii)of land under a relevant contract in relation to the disposal.
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(1) Notwithstanding section 28(3) and subject to subsection (2), the rate of capital gains tax in respect of a chargeable gain accruing to a person on a relevant disposal shall be—
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(a) in the case of a relevant disposal made in the period from 3 December 1997 to 30 November 1999, 40 per cent,
(b) in the case of a relevant disposal, other than a relevant disposal referred to in paragraph (c), made on or after 1 December 1999, 20 per cent, and
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(a) in the case of a relevant disposal made in the period from 3 December 1997 to 30 November 1999, 40 per cent, and
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(b) in the case of a relevant disposal made on or after 1 December 1999, 20 per cent.
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(b) in the case of a relevant disposal made on or after 15 October 2008, 22 per cent.
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(b) in the case of a relevant disposal made on or after 8 April 2009, 25 per cent.
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(b) in the case of a relevant disposal made on or after 7 December 2011, 30 per cent.
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(b) in the case of a relevant disposal made on or after 6 December 2012, 33 per cent.
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(c) in the case of a relevant disposal made on or after 6 April 2002, being a disposal of land which, in accordance with a development objective (as indicated in the development plan of the planning authority concerned), is for use solely or primarily for residential purposes, 60 per cent.
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(2) (a) Subsection (1) shall not apply to a relevant disposal to which this subsection applies and, accordingly, the rate of capital gains tax in respect of a chargeable gain on such a relevant disposal shall be 20 per cent.
(b) This subsection shall apply to the following:
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(i) a relevant disposal to which section 650 refers;
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(ii) a relevant disposal made in the period from 23 April 1998 to 30 November 1999, being a disposal of land to a housing authority (within the meaning of section 23 of the Housing (Miscellaneous Provisions) Act, 1992) which land is specified in a certificate given by the housing authority as land required for the purposes of the Housing Acts, 1966 to 1998;
(iii) a relevant disposal made in the period from 10 March 1999 to 30 November 1999, being a disposal of land to the National Building Agency Limited or to a body approved for the purposes of section 6 of the Housing (Miscellaneous Provisions) Act, 1992, which land is specified in a certificate given by a housing authority or the National Building Agency Limited, as appropriate, as land required for the purposes of the Housing Acts, 1966 to 1998;
(iv) a relevant disposal made in the period from 23 April 1998 to 30 November 1999, being a disposal of land in respect of the whole of which, at the time at which the disposal is made, permission for residential development has been granted under section 26 of the Local Government (Planning and Development) Act, 1963, and such permission has not ceased to exist, other than a disposal to which paragraph (c) applies;
(v) a relevant disposal made in the period from 10 March 1999 to 30 November 1999, being a disposal of land in respect of the whole of which, at the time at which the disposal is made, is, in accordance with a development objective (as indicated in the development plan of the planning authority concerned), for use solely or primarily for residential purposes other than a disposal to which paragraph (c) applies.
(c) This paragraph shall apply to a relevant disposal being a disposal—
(i) by a person (in this paragraph referred to as the “disponer”) to a person who is connected with the disponer, or
(ii) of land under a relevant contract in relation to the disposal.
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(3)In this section—
“development plan” has the meaning assigned to it by the Local Government (Planning and Development) Act, 1963;
“planning authority” has the meaning assigned to it by section 2(2) of the Local Government (Planning and Development) Act, 1963;
“relevant contract”, in relation to a disposal of land, means a contract or other arrangement under which the land is disposed of which is conditional on permission for development, other than permission for residential development, being granted under section 26 of the Local Government (Planning and Development) Act, 1963, in respect of the land;
“residential development” includes any development which is ancillary to the development and which is necessary for the proper planning and development of the area in question.
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Inserted by FA98 s65(1)(c). Applies as respects in relation to disposals made on or after the 3rd day of December, 1997.
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Substituted by FA99 s91(1)(a). This section shall apply to a relevant disposal made on or after the 10th day of March, 1999.
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Inserted by FA99 s91(1)(b). This section shall apply to a relevant disposal made on or after the 10th day of March, 1999.
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Substituted by F(No.2)A08 s44(1)(b)(i). Applies to disposals made on or after 15 October 2008.