Finance Act, 1990
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Chapter IX Capital Gains Tax | ||
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Amendment of section 3 (taxation of capital gains and rate of charge) of Capital Gains Tax Act, 1975 . |
82.—Subsection (3) (as amended by section 60 of the Finance Act, 1986 ) of section 3 of the Capital Gains Tax Act, 1975 , is hereby amended as respects chargeable gains accruing on any disposal made on or after the 6th day of April, 1990— | |
(a) by the deletion of paragraph (a), and | ||
(b) by the deletion in paragraph (b) of “more than one year but” | ||
and the said subsection, as so amended, is set out in the Table to this section. | ||
TABLE | ||
(3) Except as otherwise provided for by the Capital Gains Tax Acts, the rate of capital gains tax in respect of chargeable gains accruing to a person on the disposal of an asset shall be— | ||
(b) 50 per cent. where his period of ownership of the asset is not more than three years, | ||
(c) 35 per cent. where his period of ownership of the asset is more than three years but not more than six years, or | ||
(d) in any other case, 30 per cent., | ||
and any reference in those Acts to the rate specified in this section shall be construed accordingly. |