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Interesting Facts
- A credit may be available where capital
gains tax and capital acquisitions tax arise on the same
event e.g. a gift of an asset. This is an effective planning
tool which results in only one tax being payable.
- Dwelling house relief facilitates the
passing of residential property free of capital acquisitions
tax in certain circumstances
- You can make gifts of €3,000 p.a.
to any number of people on an annual basis free of capital
acquisitions tax
- You can offset past capital losses against
current and future capital gains
- You can take out an insurance policy
to cover your gift tax and inheritance tax liabilities
- A parent can transfer a site valued
at €254,000 or less to a child for the purpose of
constructing their only or main residence free of capital
gains tax and stamp duty.
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