Vol. 561 No. 4
258 Ms Enright asked the Minister for Finance the position in relation to the eligibility of landholders in the Heath and Mayfield areas of County Laois, whose land was purchased to facilitate the building of the Portlaoise bypass, to obtain rollover relief from capital gains tax, following the abolition of same with effect from December 2002; and if he will make a statement on the matter. [4470/03]
I announced in my budget speech of 4 December 2002 that no roll-over relief would be allowed for any purpose on gains arising from disposals on or after that date. The date of disposal is normally the date when the contract is made. However, where the contract is conditional, it is the date on which the condition is satisfied. I have also made provision in the Finance Bill 2003 so that even when the disposal took place on or after 4 December 2002, the gain can still be deferred where the reinvestment in certain linked assets took place before 4 December 2002, but within the timeframe allowed by the existing legislation. Therefore, the eligibility to rollover relief of landowners in the areas referred to by the Deputy will depend on the facts of the individual cases, which will be decided upon by the Revenue Commissioners.
