Budget 2024
Retirement Relief
The following changes will come into effect for disposals made on or after 01 January 2025:
The upper age limit which applies to the maximum level of retirement relief will be extended from 66 to 70, in respect of both a disposal to a child and a disposal to a person other than a child.
A new threshold will limit the availability of the relief on disposals to a child by individuals from the age of 55 until the age 70 to assets with a value of €10 million or less. A further amendment will require that retirement relief must be claimed by an individual on their tax return.
Angel Investor Relief
CGT relief will be introduced for third-party individuals who take significant minority shareholdings in innovative start-up companies for at least 3 years. These individuals can avail of an effective reduced rate of CGT of 16%, or 18% for partnerships. The relief can be applied on a gain of up to twice the value of their initial investment and is subject to a lifetime limit of €3 million. Further details will be set out in the Finance Bill.
Budget 2021
No changes were announced with regard to CGT rates.
There has been a change to the ownership requirement for Entrepreneur Relief. Currently there is a requirement to hold a 5% shareholding for a continuous 3 years. This has been amended to be any 3 years. The requirement to work in the business will still ensure the relief is not available to passive investors.
Budget 2020
No changes were announced with regard to CGT rates. The main CGT rate remains at 33%. The Government announced that a review on Entrepreneur Relief will take place but no changes have been announced in the Budget.
Budget 2019
No changes were announced with regard to CGT rates.
Budget 2018
No changes were announced with regard to CGT rates.
The 7-year period for owners to enjoy full CGT relief has been reduced to 4 years which allows owners to sell between years 4 and 7 and obtain relief.
Budget 2017
No changes were announced with regard to CGT rates.
The revised CGT relief for entrepreneurs introduced from 01 January 2016 will see a reduced rate of tax from 20% to 10% apply to the disposal in whole or in part of a business up to an overall limit of €1m in chargeable gains.
Budget 2016
No changes were announced with regard to CGT rates.
A revised CGT relief for entrepreneurs is being introduced from 01 January 2016 will see a 20% rate apply to the disposal in whole or in part of a business up to an overall limit of €1m in chargeable gains.
Budget 2015
No changes were announced in the Budget 2015 with regard to CGT rates, it remains at 33%.
The 7 year exemption from CGT due to expire on 31 December 2014 will not be extended.
The Windfall tax of 80% on certain gains from development land is to be removed from 01 January 2015.
Retirement relief will be available to farmers in respect of land leased out is being extended to 25 years (from 15 years) in certain circumstances.
Farm restructuring CGT relief is available where the first transaction in the restructuring is carried out by 31 December 2016.
Budget 2014
Retirement relief will be available to farmers in respect of land leased out in certain circumstances.
Purchase period for relief from CGT on disposal of commercial property held for at least 7 years is being extended to 31 December 2014.
CGT relief will be available from 01 January 2014 to entrepreneurs who reinvest the proceeds from the disposal of assets, on which CGT has previously been paid. This will form as a tax credit equal to the lower of CGT paid or 50% of CGT due on future gain. This measure will require EU approval.