Dáil Éireann Debate, Friday - 7 September 2018
144. Deputy Catherine Murphy asked the Minister for Finance if an assessment of the impact of the Budget 2018 capital gains tax changes to tackle land hoarding has been conducted; the way in which the effectiveness of these changes has been determined; and if he will make a statement on the matter. [36359/18]
View answerBudget 2018 and Finance Act 2017 provided for changes to the Section 604A CGT relief which was intended to allow owners of qualifying land or buildings the option of selling those assets after the fourth anniversary of their acquisition and enjoy a full relief from CGT. It remains open of course for individuals to retain ownership of such land or buildings up to and beyond the 7 year qualifying period.
To the extent that any disposals may have occurred as a result of this change to the relief they would only have commenced on 1 January 2018. The filing of returns are required by 31 October in the year after the date of disposal. In the case of disposals made in 2018 returns therefore would be due to be filed by 31 October 2019.
It is therefore not possible at this stage to determine the impact of the Finance Bill 2017 change in the section 604A CGT relief in the absence of appropriate data.
