Minister promises clarity on new 80% capital gains tax
He was to introduce a further amendment in Seanad Eireann on the subject, which he said was “very complex in terms of striking a balance between achieving its purpose and ensuring it is not applied unfairly”.
He has said the proposed windfall rate will only apply to disposals of land which are subject to a future rezoning from agricultural, open space, amenity or recreational use, to residential, commercial or industrial use, or a mixture of such uses. Disposals under a compulsory purchase order will not be subject to the windfall rate.
