Direct Tax Acts, Finance Act 2018

31 Amount chargeable
CGTA75 s5(1)

Capital gains tax shall be charged on the total amount of chargeable gains accruing to the person chargeable in the year of assessment, after deducting –

(a) any allowable losses accruing to that person in that year of assessment, and

(b) in so far as they have not been allowed as a deduction from chargeable gains accruing in any previous year of assessment, any allowable losses accruing to that person in any previous year of assessment (not earlier than the year 1974-75).

Go to Revenue Guidance Notes on TCA

Cross references

78 Computation of companies’ chargeable gains

546 Allowable losses

579 Non-resident trusts

579A Attribution of gains to beneficiaries

591 Relief for individuals on certain reinvestment

594 Foreign life assurance and deferred annuities: taxation and returns

600A Replacement of qualifying premises

601 Annual exempt amount

653 Restriction of relief for losses, etc. in relation to relevant disposals

711 Chargeable gains of life business

737 Special investment schemes

738 Undertakings for collective investment

751B Exchange of Irish Government bonds

838 Special portfolio investment accounts

980 Deduction from consideration on disposal of certain assets

1028 Married persons

1031M Civil partners

1042 Charging and assessment of persons not resident or ordinarily resident: modification of general rules