Brendan Griffin
Question:224. Deputy Brendan Griffin asked the Minister for Finance the tax concessions available in respect of a person (details supplied) in County Kerry; and if he will make a statement on the matter. [29903/14]
View answerTuesday, 8 July 2014
Questions (224)
Written answers
I am informed by the Revenue Commissioners that there are no tax concessions available in respect of a person disposing of shares in the circumstances outlined by you. As I stated in a reply to a previous PQ from the Deputy in relation to this issue, farmers who sell shares in order to make capital investments in their farms are no different to any other taxpayers who may decide to sell shares or other assets.
It is important to note that it is only an actual chargeable gain that is subject to capital gains tax, not the entire consideration received from a sale of shares. In addition, any gains made in a year from disposals of chargeable assets up to a total of €1,270 will not incur any capital gains tax - €1,270 is the annual capital gains tax exemption for individuals.