SFA wants reduction in capital gains tax

The Small Firms Association (SFA) has urged the Government to bring capital gains tax (CGT) back down to 20%.

SFA wants reduction in capital gains tax

The Small Firms Association (SFA) has urged the Government to bring capital gains tax (CGT) back down to 20%.

The group is also seeking a three-year 10% rate for the disposal of sites with planning permission.

In a pre-Budget submission, the SFA argues that an overhaul is needed on the current 33% rate to boost investment.

They also said that it has been shown over the last 20 years that when the CGT rate drops, the Exchequer benefits due to a surge in activity.

It calls the proposed move a "win-win" as a result.

Eight years since recession hit, the SFA also makes the case that SMEs are still hurting, and that "many small businesses are still waiting to feel the upturn".

More in this section

Lunchtime News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up
Revoiced
Newsletter

Our Covid-free newsletter brings together some of the best bits from irishexaminer.com, as chosen by our editor, direct to your inbox every Monday.

Sign up