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:

Class/Group	Relationship	2004
1	Child/minor child of deceased child	€456,438
2	Lineal ancestor or lineal descendant	€45,644
3	Others	€22,822

There is an annual small gift exemption of €3,000 per annum allowance for each beneficiary in a calender year.

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

- the Sales Proceeds of the asset (less allowable costs) and;

- the original Acquisition Cost (indexed from the dates of purchase).

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

Tax Summary 2004

Capital Acquisition Tax:

Capital Acquisition Tax:

Capital Allowances:

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