S.I. No. 167/1994 - Capital Gains Tax (Multipliers) (1994-95) Regulations, 1994.


S.I. No. 167 of 1994.

CAPITAL GAINS TAX (MULTIPLIERS) (1994-95) REGULATIONS, 1994.

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) (1994-95) Regulations, 1994.

2. In relation to the disposal of an asset made in the year 1994 - 95, 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

(1)

Multiplier

(2)

1974-75 ... ... ... ... ... ... ...

5.754

1975-76 ... ... ... ... ... ... ...

4.647

1976-77 ... ... ... ... ... ... ...

4.003

1977-78 ... ... ... ... ... ... ...

3.432

1978-79 ... ... ... ... ... ... ...

3.171

1979-80 ... ... ... ... ... ... ...

2.861

1980-81 ... ... ... ... ... ... ...

2.477

1981-82 ... ... ... ... ... ... ...

2.047

1982-83 ... ... ... ... ... ... ...

1.722

1983-84 ... ... ... ... ... ... ...

1.531

1984-85 ... ... ... ... ... ... ...

1.390

1985-86 ... ... ... ... ... ... ...

1.309

1986-87 ... ... ... ... ... ... ...

1.252

1987-88 ... ... ... ... ... ... ...

1.210

1988-89 ... ... ... ... ... ... ...

1.187

1989-90 ... ... ... ... ... ... ...

1.149

1990-91 ... ... ... ... ... ... ...

1.102

1991-92 ... ... ... ... ... ... ...

1.075

1992-93 ... ... ... ... ... ... ...

1.037

1993-94 ... ... ... ... ... ... ...

1.018

GIVEN this 2nd day of June, 1994.

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 1994 - 95 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.