S.I. No. 156/1988 - Capital Gains Tax (Multipliers) (1988-89) Regulations, 1988.

1. These Regulations may be cited as the Capital Gains Tax (Multipliers) (1988-89) Regulations, 1988.

2. In relation to the disposal of an asset made in the year 1988-89, the multiplier for the purposes of

section 3

(l) 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

4.848

1975-76

3.916

1976-77

3.373

1977-78

2.892

1978-79

2.672

1979-80

2.410

1980-81

2.087

1981-82

1.725

1982-83

1.451

1983-84

1.290

1984-85

1.171

1985-86

1.103

1986-87

1.055

1987-88

1.020

GIVEN this 29th day of June, 1988.

C. MAC DÓMHNAILL,

Revenue Commissioner.

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 1988-89 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.

S.I. No. 156 of 1988.

CAPITAL GAINS TAX (MULTIPLIERS) (1988-89) REGULATIONS, 1988.

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