Capital Acquisitions Tax Consolidation Act 2003 section 118

Repeals

Section 118 provides for the repeal of the Capital Acquisitions Tax Act 1976 following the consolidation of capital acquisitions tax legislation into the Capital Acquisitions Tax Consolidation Act 2003.

• The Capital Acquisitions Tax Act 1976 and all amending legislation are repealed by this Act.
• The repealed legislation continues to apply to gifts and inheritances taken before 21 February 2003.
• Penalty provisions from the repealed legislation remain in force for offences that occurred before the Act was passed.
• Anything done under the old legislation is treated as having been done under the corresponding provision of the new consolidated Act.