On 24th October 2013 the Finance (No. 2) Bill 2013 was published which confirmed the measures introduced by the Budget.
As the main priorities in Ireland at the moment are job creation and enterprise growth the following tax packages were introduced:
I. ENTERPRISE RELIEF – This is a new Capital Gains Tax relief which is aimed at entrepreneurs investing in assets used in new productive trading activities. The purpose is to encourage individuals to reinvest the sales proceeds from the sale/disposal of a previous asset into new productive trading or a new company. The main aspects of the relief are as follows:
(a) It applies to an individual
(b) who has paid Capital Gains Tax on the sale/disposal of an asset and
(c) invests in a new business
(d) at a cost of at least €10,000 Read more