Finance (No. 2) Act 2013

Chapter 5

Capital Gains Tax

Amendment of section 29 of Principal Act (persons chargeable)

41. Section 29 of the Principal Act is amended by substituting the following for subsection (5A):

“(5A) (a) This subsection shall apply where an individual referred to in subsection (4) transfers outside the State, to his or her spouse or civil partner, any of the proceeds of the disposal of any assets on which chargeable gains accrue, as referred to in that subsection.

(b) Where this subsection applies, any amounts received or treated, under subsection (5), as received in the State on or after 24 October 2013 which derive from any transfer referred to in paragraph (a) shall be treated, for the purpose of subsection (4), as amounts received in the State by the individual in respect of chargeable gains referred to in subsection (4).”.