C.G.T. allowance

S

sqwig

Guest
Is there an allowance for "capital gains" up to which you do not have to pay C.G.T. If so, what is it or where can this information be found.
 
Yes - each individual gets a non transferrable annual CGT allowance of €1,270 which can be used to reduce one's CGT liabilities when disposing of assets. Note that any previously incurred capital losses can also be used to reduce one's exposure to CGT but these MUST be offset against a gain before application of the annual CGT allowance. Other ways to reduce one's CGT exposure is to apply inflation indexation to the original acquisition price (up to December 31st 2003 only), to deduct allowable acquisition, enhancement and disposal expenses and transfer assets to one's spouse.

See here for more on CGT:

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www.askaboutmoney.com/clu...gtcalc.htm
 
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