Oct 15

Revenue extends CGT (Capital Gains Tax) Relief on commercial property

The Government have extended the incentive relief from CGT (in respect of the first 7 years of ownership) by one year to include properties bought to the end of 2014. The relief was initially introduced for properties purchased between 7 December 2011 and 31 December 2013. Where any commercial property purchased in this period is held for seven years the gains accrued in that period will not attract any CGT.