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tax applies. While capital gains tax makes up only a small proportion of overall taxes, it is considered an integral part of the overall taxation system due to the need to ensure as broad a tax base as possible. The purpose of capital gains tax is to ensure … benefit from gains in the value of their assets are included within the tax net on an equitable basis. In doing so, we can limit the need for increases in income tax rates and secure the sustainability of the taxation system against future challenges. While capital gains tax

thank the Deputy for bringing this issue to the House. The rate that capital gains tax is charged at has varied upwards and downwards. The truth is that the existence of capital gains tax can help maintain a balance between the rate of taxation of capital assets … budgetary challenges related to population ageing. Capital gains tax is part of a system to ensure a wide taxation base reducing the burden on income tax that is tax on labour. I assure the Deputy, as with all taxes, that capital gains tax is subject to ongoing review

gift it to their adult child, so that it will become their home. Before they can make the transfer, they face a capital gains tax bill which in their case is somewhere between €70,000 and €75,000. They simply do not have that kind of money … State. They work, they pay their taxes, they cover college fees and they contribute to their community. They are not opposed to capital gains tax in principle but a 33% rate on a property they are not selling is excessive by any measure. The reality is stark. Their

would also argue that capital gains tax is different from income tax, gift tax and inheritance tax. In fact, tax credits and bands have increased considerably over the past 20 years. The exception has been capital gains tax, where there has been no indexation whatsoever, unlike all other … taxes. When indexation was abolished, one of the reasons was capital gains tax was 20% at the end of 2002 and for a few years prior to that. That was given as a reason - we did not need taxation because it was being taxed so little. Since then

Minister of State for her response. I am pointing out that where there is a gain somebody is definitely entitled to pay capital gains tax but, unfortunately, the parent who hands over that property has no gain, gets no money and has to pay out maybe … this particular case I raised, they may have to pay out €70,000 or €75,000 in capital gains tax, despite the fact they do not get any funds whatsoever. They are gifting the house to one of their family members. In these times with such pressure

share the same surname to allow for easier international travel. Deputy Michael Cahill - To discuss discrepancies in inheritance tax and capital gains tax. Deputy Albert Dolan - To discuss introducing financial literacy to the school curriculum. Deputy Jen Cummins - To discuss Labre Park regeneration. Deputy Colm Burke - To discuss

each case: Deputy Maeve O'Connell - To discuss urban broadband provision. Deputy Michael Cahill - To discuss discrepancies in inheritance tax and capital gains tax. Deputy Emer Currie - To discuss the regulation of loot boxes and chance-based microtransactions in video games. Deputy Jen Cummins - To discuss supports

chargeable capital gain made when a person disposes of an asset. The chargeable gain is usually the difference between the price paid for the asset and the price it is disposed of and is payable by the person making the disposal. Section 556 of the Taxes Consolidation … events. It is also important to bear in mind that there is no indexation of other taxes. We do not currently have an indexation of income tax, corporation tax or capital acquisitions tax. The programme for Government does commit to maintaining a broad tax base to guard against

This was also found to be unconstitutional. Contrast this with the current taxation system where partners are treated as strangers for capital acquisition tax purposes. This is wide open to a constitutional challenge to the current legislation. Obviously, I am aware that during the past week, the State … current taxation system. Where a partner makes a gift to his or her partner, this will give rise to both capital gains tax and a gift tax. If they were married, however, there would be no tax. The tax rate bands for married couples differ from those

Deputy Cathal Crowe asked the Tánaiste and Minister for Finance if he is considering a reduction in the capital gains tax rate from 33% to 25% for active business assets; and if he will make a statement on the matter. [39656/26

thank the Deputy very much for the question. The rate at which capital gains tax, CGT, is charged has varied both upwards and downwards since its introduction in 1975. The current standard rate of 33%, which applies to most gains, has been in place since 2012. However

innovation and new technologies. In that context, would the Tánaiste agree that there is merit in examining a more competitive and targeted capital gains tax approach for active business assets, particularly where proceeds are reinvested into Irish enterprise, regional employment and productive economic activity

Another issue that has been raised consistently is the failure to index capital gains tax, CGT, thresholds and exemptions over time. When CGT was introduced in 1974, the annual exemption was £500 and if indexed properly would be a lot more than £500 today. That would have been

Deputy Edward Timmins asked the Tánaiste and Minister for Finance if he will reintroduce indexation for capital gains tax to eliminate this annual stealth tax; and if he will make a statement on the matter. [39883/26

Indexation for capital gains tax relief was abolished in 2003. Will the Minister of State consider reintroducing this indexation, something that, at the moment, is effectively an annual stealth tax because there is no indexation

question. On average, each eligible turf cutter across these bogs has received a payment of €24,085, which is exempt from capital gains tax

force report. Deputy Mark Ward - To discuss waiting times for occupational services in Dublin Mid-West. Deputy Eamon Scanlon - To discuss reducing capital gains tax for families passing homes to their children. Deputy Naoise Ó Cearúil - To discuss social infrastructure provision in Kildare North. Deputy Pádraig O'Sullivan

trying to make 700 workers redundant. Oracle is cutting 150 jobs. Fianna Fáil and Fine Gael have turned the economy into a corporate tax haven where income and wealth are distributed like an upside down pyramid but jobs go the other way around. A small number of mega … increases in inequality as a result of AI, including a 30% increase in capital income to the richest 10%. It is so extreme that even the ESRI is now recommending expanding taxes on wealth and capital. In other words, a wealth tax and an increase in corporation tax

Finance to outline the effective tax rates applicable to Exchange Traded Fund investments under the deemed disposal regime compared with the standard capital gains tax rate applied to direct equity investments; and to confirm whether any internal assessment has been conducted on the relative impact of these differing

Deputy Cathal Crowe asked the Tánaiste and Minister for Finance if he is considering a reduction in the capital gains tax rate from 33% to 25% for active business assets; and if he will make a statement on the matter. [39656/26

Deputy Edward Timmins asked the Tánaiste and Minister for Finance if he will reintroduce indexation for capital gains tax to eliminate this annual stealth tax; and if he will make a statement on the matter. [39883/26

Deputy Emer Currie asked the Tánaiste and Minister for Finance if he will consider reintroducing indexation for capital gains tax; and if he will make a statement on the matter. [38169/26

offsetting losses within the deemed disposal regime, including whether any review has been undertaken of this restriction in comparison with standard capital gains tax treatment. [33773/26