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S.I. No. 110/1998 - Capital Gains Tax (Multipliers) (1998-99) Regulations, 1998.

S.I. No. 110 of 1998.

CAPITAL GAINS TAX (MULTIPLIERS) (1998-99) REGULATIONS, 1998.

The Revenue Commissioners, in exercise of the powers conferred on them by section 556 (6) of the Taxes Consolidation Act, 1997 (No. 39 of 1997), hereby make the following regulations:

1. These Regulations may be cited as the Capital Gains Tax (Multipliers) (1998-99) Regulations, 1998.

2. In relation to the disposal of an asset made in the year 1998-99, the multiplier for the purposes of section 556 (2) of the Taxes Consolidation Act, 1997 (No. 39 of 1997), 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 deductable expenditure was incurred.

TABLE

Year of assessment in which deductible expenditure incurred

(1)

Multiplier

(2)

1974-75

6.215

1975-76

5.020

1976-77

4.325

1977-78

3.707

1978-79

3.425

1979-80

3.090

1980-81

2.675

1981-82

2.211

1982-83

1.860

1983-84

1.654

1984-85

1.502

1985-86

1.414

1986-87

1.352

1987-88

1.307

1988-89

1.282

1989-90

1.241

1990-91

1.191

1991-82

1.161

1992-93

1.120

1993-94

1.099

1994-95

1.081

1995-96

1.054

1996-97

1.033

1997-98

1.017

Dated this 20th day of April, 1998.

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 1998-99 are to be increased under section 556 (2) of the Taxes Consolidation Act, 1997 , 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.