News Archive

Capital Gains Tax Incentive

CGT retirement relief is further extended to disposals of leased land where, among other conditions, the land is leased over the long-term (ie. minimum lease of 5 years) and the subsequent disposal is to a person other than a child. This relief is  to encourage older farmers who have no children to whom to transfer their farm to lease out their farmland over the long term to younger farmers.

 

Capital Gains Tax (CGT) relief for properties purchased between 7 December 2011 and 31 December 2013 has been extended by one year 31 December 2014. Property purchased in this period and held for seven years will not attract CGT.  

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