Chattels Chattels Tangible moveable property Cars, furniture, jewellery, paintings, antiques, boats Land and buildings are not chattel as they are not moveable Shares, goodwill, trademarks are not chattel as they are not tangible

Chattels Wasting chattels Tangible moveable property with a predictable life of less than 50 years Television, car, computer Wasting chattel is exempt from CGT Exemption does not apply to assets used for the purpose of a trade. No allowance for losses on wasting chattel

Chattels Non-wasting chattels Tangible moveable property with a predictable life of more than 50 years Jewellery, paintings, antiques, other works of art Chargeable to CGT Where proceeds are less than €2,540 the disposal is exempt from CGT €2,540 exemption applies to each non-wasting chattel disposed

Chattels Non-wasting chattels Proceeds above €2,540 are liable to CGT but may qualify for marginal relief Marginal relief restricts the tax payable to 50% of the excess of the consideration over the €2,540 limit.

Chattels Marginal relief on non-wasting chattels Calculate the gain as normal Calculate using marginal relief calculation: (Proceeds - €2,540)/2 If the CGT calculated using normal rules is higher than the marginal relief calculation, the tax is reduced to the amount using marginal relief

Chattels Losses on non-wasting chattels If non wasting chattel is disposed of for less than €2,540 and a loss arises, then the proceeds are deemed to be €2,540 in order to calculate the loss arising on the disposal

Chattels Losses on non-wasting chattels A monetary loss will not be converted to a notional gain using these rules.

Chattels Set of non-wasting chattels If non-wasting chattels form part of a set, the sale of the set is treated as one disposal if the assets are disposed of to the same person, a connected person or persons acting together. Anti-avoidance measure to ensure a set is not disposed of separately to avail of €2,540 exemption. Impacts part-disposals