Capital Gains Tax (CGT) on the sale, gift or exchange of an asset

What do you pay CGT on?

You must pay CGT on gains made from the sale, gift or exchange of an asset such as:

  • land (including development land)
  • buildings (houses, apartments, or commercial property)
  • shares in companies (Irish-resident or non-resident)
  • assets that have no physical form such as goodwill, patents and copyright
  • currency (other than Irish currency)
  • assets of a trade
  • foreign life insurance policies and offshore funds
  • capital payments (in certain situations).

You might also have to pay CGT on gains for other types of assets. Examples of these assets include antiques, paintings and jewellery.

In some situations, reliefs may apply. Exemptions are explained in the ‘What is exempt from CGT?’ page in this section. You might be able to claim credit if you have paid foreign CGT on a foreign property.


Development land is land (including buildings) in the Republic of Ireland which is disposed for a price higher than its ‘current use value’.

Current use value is the market value of the land if no development (other than minor development) could be carried out.

Jointly owned assets

If you dispose of an asset that you jointly own, you only pay CGT on your share of the gain.

Compensation and insurance money

Money you receive as compensation and insurance money may be treated as a disposal. You must pay CGT on it. This is money you receive as:

  • compensation for damage or destruction of an asset
  • compensation for the forfeiture or surrender of rights
  • insurance payments because of loss, damage, depreciation or destruction of an asset
  • compensation for the use or exploitation of an asset.

You might use the money to replace or repair the asset. If you do, you may defer CGT until you eventually sell the replaced or repaired asset. The deferral of CGT is a relief, it does not apply automatically, you can claim it:

The compensation you receive reduces the cost of the asset. It can also reduce the replacement cost of the asset if you have lost it or it has been destroyed.

Next: What is exempt from CGT?