Dáil Éireann Debate, Thursday - 6 October 2016
94. Deputy Joe Carey asked the Minister for Finance if capital losses carried forward can be used to shelter capital gains arising on the disposal of residential development land; and if he will make a statement on the matter. [29212/16]
Amharc ar fhreagraI am advised by Revenue that, in accordance with capital gains tax legislation, allowable losses arising on disposals of other types of assets may not be set off against chargeable gains arising on disposals of development land.
However, allowable losses arising on disposals of development land may be set off against chargeable gains arising on disposals of development land. In addition, allowable losses arising on disposals of development land may also be set off against chargeable gains arising on disposals of assets that are not development land.
