On 31 August 2026, Irish Revenue published eBrief No. 128/26 providing detailed guidance on miscellaneous Capital Gains Tax (CGT) exemptions for certain categories of property. This update clarifies the scope of reliefs available under the Taxes Consolidation Act 1997, specifically addressing exemptions that apply to assets such as compensation for personal injury, certain government securities, and assets transferred by way of gift or inheritance. The guidance is effective immediately and applies to disposals made on or after the publication date. Tax practitioners should review the eBrief to ensure clients claim all applicable reliefs and correctly compute chargeable gains.
Key Takeaways
- Expanded Exemption Categories: The eBrief enumerates specific property types qualifying for CGT exemption, including compensation for personal injury, certain government stocks, and assets transferred between spouses or civil partners.
- Interaction with Other Reliefs: Guidance clarifies how these miscellaneous exemptions interact with principal private residence relief, retirement relief, and entrepreneurial relief, preventing double counting.
- Compliance and Reporting: Taxpayers must retain documentation supporting exemption claims for six years. Revenue may request evidence during enquiries; incorrect claims may attract penalties.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement