Revenue E-Brief Issue 14, 13 May 2005
Sections 598 & 599 Taxes Consolidation Act, 1997 provide for relief from Capital Gains Tax where an individual disposes of his or her ‘qualifying assets’. The relief applies only to individuals who are 55 years and over at the time of disposal.
Where an individual disposes of ‘qualifying assets’ before his/her 55th birthday, the Revenue Commissioners will consider claims for relief where all the following conditions are present.
An individual claiming retirement relief on these grounds should provide medical evidence of the illness and outline the circumstances in which the relief is being claimed.
This applies to disposals occurring on or after 14/5/2004.