LHM Casey McGrath

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Capital Taxes

Capital Gains TAX (CGT)

An amendment will be made to Section 604 of the Taxes Consolidation Act 1997, also known as the 7-year CGT relief. The amendment will allow the owners of qualifying assets to sell those assets between the fourth and seventh anniversaries of their acquisition without being subject to CGT.

Capital Acquisitions Tax (CAT)

For the purpose of CAT agricultural relief and CGT retirement relief, agricultural land placed under solar infrastructure will continue to be classified as agricultural, however, the solar infrastructure can only cover up to 50% of the acreage.