Exemptions

The main exemptions from CGT are:

  • Annual exemption. The first €1,270 of gains for a tax year is exempt (s 601).
  • Disposals of property acquired between 7 December 2011 and 31 December 2014, provided the property is held for more than seven years (s 604A).
  • Chattel exemption. If the proceeds from the disposal of a durable chattel (“tangible movable property” other than wasting assets) do not exceed €2,540, the gain is exempt (s 602).
  • Gains on government and certain other securities (s 607).
  • Gains realised by pension funds (s 608) and charities (s 609).
  • Gains on the following are also exempt (s 613)
  • Instalment savings scheme bonuses,
  • Prize bond winnings,
  • Compensation for damages or personal injury,
  • Lottery and betting winnings, and
  • A disposal of pension rights.
  • A parent can pass a residential site to his/her child (including from 01.01.2019 the child’s spouse) to enable the child to build a house on the site. No CGT arises provided the site is less than one acre and is worth less than €500,000 (s 603A).

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