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DEVELOPMENT LAND/LOSSES WEEK 3 - Coggle Diagram
DEVELOPMENT LAND/LOSSES WEEK 3
:recycle:
MARKET VALUE > CURRENT USE VALUE AT DISPOSAL DATE
:recycle:
:recycle:
CURRENT USE VALUE
: Unlawful to carry out
DEVELOPMENT work
on the land requiring planning permission :recycle:
RESTRICTION ON INDEXATION
:check:
CURRENT USE VALUE AT TIME OF ACQUISITION
:red_cross:
DEVELOPMENT VALUE
:red_cross:
ENHANCEMENT EXPENDITURE
:check:
ACQUISITION COSTS
CAPITAL LOSSES
Same as Gains - :check:
INDEXATION RESTRICTIONS
USE
Against Capital Gains in
CURRENT YEAR
CARRIED FORWARD
against future capital gains
:red_cross: Set back to
PREVIOUS PERIODS
:red_cross:
GOVERNMENT SECURITIES (EXEMPT)
, cannot be used
DEVELOPMENT LAND GAINS -
SPECIAL RULES
NON- DEVELOPMENT LAND GAINS :forbidden: SET AGAINST DEVELOPMENT LANDS
DEVELOPMENT LOSSES :check: SET AGAINST
DL GAINS
NON - DL GAINS
EXEMPTIONS/RELIEFS
Govt Securities
INTEREST EARNED :red_flag: IS TAXABLE
LOSSES ON DISPOSAL :forbidden:
COMAPANIES + INDIVIDUALS
Participation Exemption
DISPOSALS BY PARENT COMPANY IN INVESTEE
Parent Co must
OWN 5%
of
INVESTEE Co for CONTINUOUS PERIOD OF 12 months
in
PREVIOUS 2 YEARS
INVESTEE Co must be:
Wholly or mainly trading
Resident in EU or Double Tax Treaty country
Shares :red_cross: Value from
Irish land & buildings
Group relief
Transfer of business to company
Entrepreneur relief
Retirement Relief
INDIVIDUALS
TRANSFER OF BUSINESS
TO CO
DEFERRAL of capital Gain
All business assets except :forbidden: CASH
ENTREPRENEUR RELIEF
20%
ON DISPOSAL OF CERTAIN business assets up to €1mn
RETIREMENT RELIEF
If 55+ & dispose of business assets/shares in company
Don't need to
ACTUALLY RETIRE