S.I. No. 157/1997 - Capital Gains Tax (Multipliers) (1997-98) Regulations, 1997


S.I. No. 157 of 1997.

CAPITAL GAINS TAX (MULTIPLIERS) (1997-98) REGULATIONS, 1997

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) (1997-98) Regulations, 1997.

2. In relation to the disposal of an asset made in the year 199798, 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

6.112

1975-76

4.936

1976-77

4.253

1977-78

3.646

1978-79

3.368

1979-80

3.039

1980-81

2.631

1981-82

2.174

1982-83

1.829

1983-84

1.627

1984-85

1.477

1985-86

1.390

1986-87

1.330

1987-88

1.285

1988-89

1.261

1989-90

1.122

1990-91

1.171

1991-92

1.142

1992-93

1.101

1993-94

1.081

1994-95

1.063

1995-96

1.037

1996-97

1.016

GIVEN this 14th day of April, 1997.

D. B. QUIGLEY,

 Revenue Commissioners.

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 199798 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.