S.I. No. 149/1996 - Capital Gains Tax (Multipliers) (1996-97) Regulations, 1996.

S.I. No. 149 of 1996.

CAPITAL GAINS TAX (MULTIPLIERS) (1996-97) REGULATIONS, 1996.

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) (1996-97) Regulations, 1996.

2. In relation to the disposal of an asset made in the year 1996-97, the multiplier for the purposes of section 3 (1) 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	Multiplier
(1)	(2)
1974-75	6.017
1975-76	4.860
1976-77	4.187
1977-78	3.589
1978-79	3.316
1979-80	2.992
1980-81	2.590
1981-82	2.141
1982-83	1.801
1983-84	1.601
1984-85	1.454
1985-86	1.369
1986-87	1.309
1987-88	1.266
1988-89	1.242
1989-90	1.202
1990-91	1.153
1991-92	1.124
1992-93	1.084
1993-94	1.064
1994-95	1.046
1995-96	1.021

GIVEN this 29th day of May, 1996.

D. B. QUIGLEY,

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 1996-97 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.