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The best known are Capital Acquisitions Tax and Capital Gains Tax.

Capital Acquisitions Tax applies to gifts and inheritances above certain class thresholds. The highest threshold applies where the beneficiary of the gift or inheritance is a child of the disponer. There is a smaller threshold for a lineal ancestor or descendant, and the smallest threshold applies where the beneficiary is not entitled to either of these two.

Capital Gains Tax is payable on gains which arise on the disposal of assets, and it needs careful attention because a disposal may occur even if no capital sum is derived from the disposal, typically a disposal by means of a gift or on exchange. An asset is enhanced by means of capital expenditure, this forms part of the cost of the asset concerned. Indexation was applied to compensate for inflation up to the 31st December 2002.