Finance Act, 1997
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Exemption of certain transfers from capital acquisitions tax following the dissolution of a marriage. |
142.—(1) Notwithstanding the provisions of the Principal Act, a gift or inheritance (within the meaning, in each case, of that Act) taken by virtue or in consequence of an order to which this subsection applies by a spouse who was a party to the marriage concerned shall be exempt from any capital acquisitions tax under that Act and shall not be taken into account in computing such a tax. | |
(2) Subsection (1) applies— | ||
(a) to a relief order or an order under section 25 of the Family Law Act, 1995 , made following the dissolution of a marriage, or | ||
(b) to a maintenance pending relief order made following the granting of leave under section 23 (3) of the Family Law Act, 1995 , to a spouse whose marriage has been dissolved, | ||
(c) to an order referred to in section 41 (a) of the Family Law Act, 1995 , or an order under section 42 (1) of that Act made in addition to or instead of an order under section 41 (a) of that Act, in favour of a spouse whose marriage has been dissolved, and | ||
(d) to an order under Part III of the Family Law (Divorce) Act, 1996 . | ||
(3) Section 51 of the Family Law Act, 1995 , and section 34 of the Family Law (Divorce) Act, 1996 , are hereby repealed. |