Revenue Tax Briefing

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Revenue Tax Briefing Issue 47, April 2002

Finance Act 2003 – Capital Gains Tax

Section 60 amends Section 600A TCA 1997. Section 600A gives, in certain circumstances, a deferral of capital gains tax arising on the disposal of a residential premises which is let. One of the conditions is that the proceeds from the disposal are re-invested in certain other similar premises. The amendment to the section provides firstly that the premises being disposed of can have any number of residential units and secondly that the replacement premises must contain at least the same number of residential units, but not less than 3 such units