CGT is due based on the asset disposal date:
- Between 1 Jan – 30 Nov: Pay by 15 Dec of the same year
- Between 1 Dec – 31 Dec: Pay by 31 Jan of the following year
Payment must be made before filing the tax return to avoid penalties.
Yes, you must file a return and calculate your gains, even if no tax is owed.
- Filing Deadline: Submit by 31 Oct of the year after the disposal (or later with ROS).
- Information to Include: Sale price, purchase price, expenses, and any exemptions.
- Calculation: Subtract allowable expenses and reliefs from the sale price.
Even if no tax is due, you must file the return to avoid penalties.
If you incur a loss:
- Declare the Loss: Include it in your tax return under “Capital Gains.”
- Offset Losses: Offset against gains in the same year before applying the €1,270 exemption.
- Carry Forward Losses: Unused losses can be carried forward to offset future gains.
- Foreign Losses: Can only be offset against foreign gains and carried forward.
- Documentation: Keep records of the loss, as Revenue may request proof.
Whether you pay tax on a gift depends on its value and your relationship to the giver.
- Thresholds: Exceeding the tax-free threshold for your group triggers CAT at 33% on the excess.
- Small Gift Exemption: Gifts of up to €3,000 annually are exempt.
- Exemptions: Gifts from a spouse or civil partner are exempt. Certain reliefs (e.g., Agricultural, Business) may apply.
- Tax Return: You must file a Form IT38 if the value exceeds 80% of the threshold, even if no tax is due.
Lifetime tax-free thresholds for CAT are:
- Group A: €400,000 (e.g., parent to child)
- Group B: €40,000 (e.g., grandparent to grandchild)
- Group C: €20,000 (all other relationships)
Gifts from a spouse or civil partner are exempt.
These thresholds are cumulative and cover all gifts or inheritances since 5 Dec 1991.
The person receiving the gift or inheritance (the beneficiary) pays CAT.
- If the value exceeds the tax-free threshold, the beneficiary must pay 33% on the excess.
- Tax Return: File Form IT38 if gifts or inheritances exceed 80% of the threshold.
- Pay & File Deadlines:
- 1 Jan – 31 Aug: Pay by 31 Oct of the same year
- 1 Sep – 31 Dec: Pay by 31 Oct of the following year
Pay CAT based on the valuation date (the date the gift or inheritance value is determined):
- Valuation Date 1 Jan – 31 Aug: Pay by 31 Oct of the same year
- Valuation Date 1 Sep – 31 Dec: Pay by 31 Oct of the following year
You pay CGT on gains from the sale, gift, or exchange of assets, including:
- Land (including development land)
- Buildings (residential, commercial, or rental property)
- Shares (Irish and foreign companies)
- Intangible assets (goodwill, patents, copyrights)
- Currency (other than Irish currency)
- Trade assets
- Foreign life insurance policies and offshore funds
- Other assets (antiques, art, jewellery)
Certain reliefs or exemptions, like the first €1,270 of chargeable gains, may apply. Our FastTax.ie tool makes calculations easy.
Gift and Inheritance Tax (Capital Acquisitions Tax or CAT) applies to gifts and inheritances in Ireland:
- Thresholds depend on the relationship between giver and receiver. For 2025:
- Group A: €400,000 (e.g., parent to child)
- Group B: €40,000 (e.g., grandparent to grandchild)
- Group C: €20,000 (all other relationships)
- Tax Rate: 33% on the value above the threshold
- Exemptions: Gifts from a spouse or civil partner are exempt; Small Gift Exemption allows up to €3,000 annually without CAT.
