| Links from Section 742 | ||
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| Act | Linked to | Context |
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Taxes Consolidation Act, 1997 |
the amount of that distribution paid to the person (assuming the person is still retaining that interest) will include a payment of capital debited to an account (in this Chapter and in Schedules 19 and 20 referred to as “the equalisation account”) maintained under the arrangements and determined by reference to the income which had accrued to the fund at the date of the person’s acquisition. |
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Taxes Consolidation Act, 1997 |
(b) throughout so much of that period as precedes the disposal the income of the offshore fund concerned has been of the nature referred to in paragraph 3(1) of Schedule 19. |
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Taxes Consolidation Act, 1997 |
the amount of that distribution paid to the person (assuming the person is still retaining that interest) will include a payment of capital debited to an account (in this Chapter and in Schedules 19 and 20 referred to as “the equalisation account”) maintained under the arrangements and determined by reference to the income which had accrued to the fund at the date of the person’s acquisition. |
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Taxes Consolidation Act, 1997 |
(5) An event which apart from section 584(3) would constitute a disposal of an asset shall constitute such a disposal for the purpose of determining whether by virtue of subsection (3) there is a disposal to which this Chapter applies. |
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Taxes Consolidation Act, 1997 |
(6) The reference in subsection (5) to section 584(3) shall be deemed to include a reference to that section as applied by section 586 or 733 but not as applied by section 585. |
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Taxes Consolidation Act, 1997 |
(6) The reference in subsection (5) to section 584(3) shall be deemed to include a reference to that section as applied by section 586 or 733 but not as applied by section 585. |
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Taxes Consolidation Act, 1997 |
(6) The reference in subsection (5) to section 584(3) shall be deemed to include a reference to that section as applied by section 586 or 733 but not as applied by section 585. |
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Taxes Consolidation Act, 1997 |
(6) The reference in subsection (5) to section 584(3) shall be deemed to include a reference to that section as applied by section 586 or 733 but not as applied by section 585. |
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|
Taxes Consolidation Act, 1997 |
(3) Without prejudice to section 741(1), this Chapter shall apply, subject to subsections (4) to (6), to a disposal by any person of an asset if— |
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Taxes Consolidation Act, 1997 |
(b) the fund is not and has not at any material time (within the meaning of section 741(7)) been a non-qualifying offshore fund, and |
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| Links to Section 742 (from within TaxSource Total) | ||
| Act | Linked from | Context |
|
Taxes Consolidation Act, 1997 |
(b) is a disposal to which Chapter 2 of Part 27 applies (whether by virtue of subsection (3) of section 742 or otherwise) or is one to which that Chapter would apply if subsections (5) and (6) of that section applied generally and not only for the purpose of determining whether, by virtue of subsection (3) of that section, there is a disposal to which that Chapter applies, |
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Taxes Consolidation Act, 1997 |
(c) is not a disposal with respect to which the conditions in subsection (4) of section 742 are fulfilled, and |
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|
Taxes Consolidation Act, 1997 |
(7) Subsection (2) of section 742 shall apply for the purposes of this paragraph as it applies for the purposes of that section. |
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|
Taxes Consolidation Act, 1997 |
1. In this Part of this Schedule, “material disposal” means a disposal to which Chapter 2 of Part 27 applies otherwise than by virtue of section 742. |
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|
Taxes Consolidation Act, 1997 |
(1) Subject to paragraph 7, a disposal to which Chapter 2 of Part 27 applies by virtue of section 742(3) shall give rise to an offshore income gain of an amount equal to the equalisation element relevant to the asset disposed of. |
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Taxes Consolidation Act, 1997 |
(2) For the purposes only of the application of Part 1 of this Schedule to determine the Part 1 gain (if any) on a disposal involving an equalisation element, subsections (5) and (6) of section 742 shall apply as if in subsection (5) of that section “by virtue of subsection(3)” were deleted. |
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Taxes Consolidation Act, 1997 |
“the equalisation account” has the meaning assigned to it by section 742(1); |
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Taxes Consolidation Act, 1997 |
(2) Subject to subsections (3) to (7) and section 742, there shall be a disposal of an asset for the purposes of this Chapter if there would be such a disposal for the purposes of the Capital Gains Tax Acts. |
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Taxes Consolidation Act, 1997 |
(3) Notwithstanding anything in paragraph (b) of section 573(2), where a person dies and the assets of which he or she was competent to dispose include an asset which is or has at any time been a material interest in a non-qualifying offshore fund, then, for the purposes of this Chapter (other than section 742) that interest shall, immediately before the acquisition referred to in paragraph (a) of section 573(2), be deemed to be disposed of by the deceased for such a consideration as is mentioned in that paragraph; but nothing in this subsection shall affect the determination in accordance with subsection (1) of the question whether that deemed disposal is one to which this Chapter applies. |
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Taxes Consolidation Act, 1997 |
(6) Where the disposal to which this Chapter applies constitutes such a disposal by virtue of section 741(6) or 742(5), the Capital Gains Tax Acts shall apply as if an amount equal to the offshore income gain to which the disposal gives rise were given (by the person making the exchange concerned) as consideration for the new holding (within the meaning of section 584(1)). |
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Taxes Consolidation Act, 1997 |
(a) a disposal to which this Chapter applies by virtue of subsection (3) of section 742 is made otherwise than to the offshore fund concerned or to the persons referred to in subsection (2)(b) of that section, |
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