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Indexation relief

Indexation relief

How does Indexation Relief work?

Indexation Relief (also known as ‘inflation relief’) may be claimed if you owned the asset that you are selling before 2003.

With Indexation Relief, the market value of the asset at the time you became the owner is increased. This increase is based on inflation calculated by the Central Statistics Office.

In the case of land to be used for development, relief applies only to a specific value. This is the value that the land would have had at the date you became the owner if it was not development land.

Indexation relief was abolished for the tax year 2003 and subsequent years. If you began the owner of an asset in 2003 or in later years, you are not entitled to Indexation Relief on that asset.

Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie

 

 

 

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