Tax Code

Tuesday, 11 October 2016

Questions (89)

Michael Moynihan

Question:

89. Deputy Michael Moynihan asked the Minister for Finance to outline the way in which capital gains tax is calculated on easements; and if he will make a statement on the matter. [29607/16]

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Written answers

I am advised by Revenue that an easement is an asset for capital gains tax (CGT) purposes. The receipt by a person of a capital sum for an easement is a disposal which is liable to CGT at the rate of 33%. An exemption is available in respect of the first €1,270 of chargeable gains made by an individual in a tax year.