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Irish Statutory Instruments


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URL: http://www.bailii.org/ie/legis/num_reg/1988/0156.html

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S.I. No. 156/1988 -- Capital Gains Tax (Multipliers) (1988-89) Regulations, 1988.

S.I. No. 156/1988 -- Capital Gains Tax (Multipliers) (1988-89) Regulations, 1988. 1988 156

S.I. No. 156/1988:

CAPITAL GAINS TAX (MULTIPLIERS) (1988-89) REGULATIONS, 1988.

CAPITAL GAINS TAX (MULTIPLIERS) (1988-89) REGULATIONS, 1988.

The Revenue Commissioners, in exercise of the powers conferred on them by section 3 (5) of the Capital Gains Tax (Amendment) Act, 1978 (No. 33 of 1978), hereby make the following regulations:

1. These Regulations may be cited as the Capital Gains Tax (Multipliers) (1988-89) Regulations, 1988.

2. In relation to the disposal of an asset made in the year 1988-89, the multiplier for the purposes of section 3 (l) of the Capital Gains Tax (Amendment) Act, 1978 (No. 33 of 1978), shall be the figure mentioned in column (2) of the Table to this Regulation opposite the mention in column (1) of the said Table of the year of assessment in which the deductible expenditure was incurred.

TABLE

Year of assessment in which deductible expenditure incurred

(1)

Multiplier

(2)

1974-75 4.848
1975-76 3.916
1976-77 3.373
1977-78 2.892
1978-79 2.672
1979-80 2.410
1980-81 2.087
1981-82 1.725
1982-83 1.451
1983-84 1.290
1984-85 1.171
1985-86 1.103
1986-87 1.055
1987-88 1.020

GIVEN this 29th day of June, 1988.

C. MAC DÓMHNAILL,

Revenue Commissioner.

EXPLANATORY NOTE.

These Regulations specify the multipliers by reference to which sums (such as the base cost of an asset and enhancement expenditure incurred on it) which are allowable as a deduction from the consideration for the disposal of an asset in the year of assessment 1988-89 are to be increased under section 3 (1) of the Capital Gains Tax (Amendment) Act, 1978 , for the purpose of computing the chargeable gain accruing to a person on such a disposal. The multipliers are derived from the consumer price index numbers compiled by the Central Statistics Office expressed on the basis that the consumer price index at mid-November, 1968, is 100.



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URL: http://www.bailii.org/ie/legis/num_reg/1988/0156.html