Tax Summary 2004
Capital Acquisition Tax:
| The applicable rate is 20% and is levied on gifts and inheritances and is calculated on the basis of the relationship between the disponer and benificiary. | ||||||||||||
| There are three group tax free thresholds as follows: | ||||||||||||
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Capital Acquisition Tax:
| The applicable rate is 20% and arises on a disposal of an asset by a chargeable person after 5th. April 1974. The tax computationn is based on the difference between |
Annual exemption of €1,270. Section 65 of the Finance Act provides that indexation will not be applied to assets acquired/disposed of on or after 4th. December 2003. |
Capital Allowances: |
| Writing down Allowances |
| Plant & Machinery | 12.5% for 8 years |
| Industrial Buildings | 4% for 25 years |
| Hotels | 4% for 25 years |
| Farm Buildings | 15% for 6 years and 10% in year 7 |
