Capital Gains Tax (Amendment) Act, 1978

Amendment of section 28 (replacement of business and other assets) of Principal Act.

9.—Section 28 of the Principal Act is hereby amended by the insertion after subsection (2) of the following subsection:

“(2A) A chargeable gain or the balance of a chargeable gain which, under the provisions of subsection (1) or (2), as may be appropriate, is treated as accruing at a date later than the date of the disposal on which it accrued shall not be so treated for the purposes of section 3 of the Capital Gains Tax (Amendment) Act, 1978, or for the purposes of determining the period of ownership under section 4 of that Act.”.