Capital gains as high as 80% for farmers site sales
Many farmers sold sites in the boom years, and were fortunate to benefit from historically-low capital gains tax rates of 20% or 25%.
The legislation that founded NAMA, in 2009, included new rules in relation to the disposal of land that has been rezoned. The new legislation has introduced an 80% capital-gains tax rate, which applies on the disposal of land after October 30, 2009, where the value of the land has been increased by rezoning on, or after, this date.
