indexation or inflation relief after 2002

[joe sod]

Ive just been reading through the revenues guide to capital gains tax, from my understanding you cannot reduce gains made since 2002 due to inflation, in other words the revenue are saying that no inflation has happened since 2002, surely this is not fair, is my understanding correct?

 

[Black Sheep]

Revenue rules Fair????????
Am I missing something

 

[huskerdu]

Ive just been reading through the revenues guide to capital gains tax, from my understanding you cannot reduce gains made since 2002 due to inflation, in other words the revenue are saying that no inflation has happened since 2002, surely this is not fair, is my understanding correct?

You are correct that this is the law, but you are wrong to blame the Revenue.

In 2002, the Minister for Finance decided that you could no longer index gains for inflation and changed the law on this in the Finance Act.