Indicative Content |
Capital Gains Tax Administration.
Principles and scope. Explain the implications of the residence, ordinary residence and domicile status of an individual on the scope of capital gains tax. Temporary Residence rules. Administration –payment dates and filing of return. Returns & Self –assessment. Meaning of disposal, chargeable assets, and exempt assets. CGT Computation – Time of disposal, application of market value, treatment of grants. Indexation.
|
Capital Gains Tax –Rules for specific transactions
Losses. Losses on death. Development land losses. Connected person’s losses. Monetary gains and monetary loss rules. Part-disposals. Wasting & Non-Wasting Chattels. Rules re development land. Connected persons, married persons –transactions between spouses, assets passing on death. Negligible value claims relief • Compute the chargeable gains/allowable losses when chattels are disposed.
|
CGT Reliefs
Principal Private Residence. Compute the exemption when a principal private residence is disposed.
Calculate the chargeable gain when a principal private residence has been used for business purposes.
Calculate the capital gain when the sale price of a principal private residence reflects development potential.
Transfer of a site to a child.
Disposal of assets acquired between 2011 and 2014
|
CGT-Family Succession and Transfer of business in Retirement
Retirement Relief –Family relief, third party relief, and family company. Conditions. Calculations. Planning for transfer. The interaction with Entrepreneurial Relief. Report Writing.
Entrepreneurial Relief.
Transfer of a business to company status.
Tax planning.
|
Capital Gains Tax -Shares
Identification of holdings. First in first out rules.
Treatment of shares issued under a rights issue, and a bonus issue.
Acquisition within four weeks of disposal. Disposal within four weeks of acquisition.
|
Capital Acquisitions Tax
CAT administration. Obligations for filing return and payment Dates. Residence aspects of CAT. Thresholds. Calculation of CAT. Private Dwelling house. Gift splitting. Life Interests. Application of various reliefs such as Agricultural Relief & Business Relief. Advising clients in relation to qualifying for various relief and minimizing the tax liability by application of the relevant relief.
|
Stamp Duty
The charge to Stamp duty. Rates of stamp duty and calculation. Stamp duty on Gifts. Reliefs and Exemptions
|
Local Property Tax
Liable Person. Valuation Date. Calculation of LPT.
|
Best Practice
Code of Practice for Revenue Audit.
Revenue Referrals to Professional Bodies Sec851A
|
SETU Carlow Campus reserves the right to alter the nature and timings of assessment
Module Resources
|
Recommended Book Resources |
---|
-
Patrick Mulcahy. (2020), Irish Taxation: Law & Practice, 18. 35, Irish Tax Institute, Dublin, p.900, [ISBN: 9781842605561].
|
Supplementary Article/Paper Resources |
---|
-
'The Irish Tax Review'.
-
'Accountancy Ireland'.
-
'Accounting & Business'.
|
Other Resources |
---|
-
www.revenue.ie, The Irish Revenue Website.
-
www.taxireland.ie, The Irish Taxation Institute.
-
www.irlgov.ie, Website of the Irish Government.
-
Irish Tax Institute. Taxfind.
|