CGT 7 year exemption not to be extended in Budget 2015, according to Minster for Finance

October 5, 2014

The Irish Minister for Finance, Mr Michael Noonan, has announced that he will not extend the CGT "seven year" exemption which is to expire at the end of 2014. The exemption provides that properties purchased before the end of 2014 will be exempt from any gain made in the first seven years, once they are held by the purchaser for a minimum of seven years. Minister Noonan is quoted as saying “I use tax breaks to get a particular economic or social response in the short term but I will not have it bedded in as a permanent feature of the tax code.”

Irish Times Article:  http://www.irishtimes.com/business/economy/capital-gains-tax-exemption-to-be-abolished-in-budget-says-noonan-1.1941969?utm_content=Html%20email&utm_medium=Email&utm_campaign=TaxFax%20-%2026%20Sept%202014&utm_source=customerminds.com&utm_term=Irish%20Times%20CGT%20article

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