88 Exemption of certain transfers from capital acquisitions tax following dissolution of marriage or civil partnership

Summary

This section grants exemption from capital acquisitions tax in respect of certain transfers of property between persons under the Family Law Act 1995, the Family Law (Divorce) Act 1996 and Civil Partnership and Certain Rights and Cohabitants Act 2010 and similar transfers made outside the State under legislation analogous to those Acts.

Details

(1) The section exempts all transfers of property from one person to the other from gift tax and inheritance tax where those persons have separated or divorced or where a civil partnership has been dissolved and the transfer is made pursuant to certain court orders.

The court orders to which the section applies are as follows:

• (2)(a), (b) a relief order or an order under section 25 of the Family Law Act 1995 and a maintenance pending relief order (these are orders relating to payments for the maintenance of dependents, etc. which are made by an Irish court following a legal separation or the dissolution of a marriage, as the case may be, in a jurisdiction outside the State),
• (2)(c) an order referred to in section 41(a) of the Family Law Act 1995 (section 41 deals with maintenance orders for a spouse and children), or an order under section 42(1) of that Act (section 42 deals with lump sum maintenance orders for a spouse and children) made in addition to or instead of an order under section 41(a) of that Act, in favour of a spouse whose marriage has been dissolved,
• (2)(d) an order under Part III of the Family Law (Divorce) Act 1996 (which deals with preliminary and ancillary orders after proceedings for divorce),
  (2)(e) an order under Part 12 of the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010, and
• (2)(f) analogous orders, made on or after 10 February 2000, by a foreign court consequent on a foreign divorce which is recognised as valid by the Irish Courts.

Relevant Date: Finance Act 2015