195. Deputy Michael McGrath asked the Minister for Finance his views on whether the current rules regarding capital gains tax retirement relief on the transfer of certain business assets are fair and equitable in view of the fact that, for example, they impose a tax charge of €125,000 on an 85 year old who has been in business for 50 years, but zero tax on a 55 year old selling a similarly valued business after just ten years; if he is satisfied that the law introduced last year to promote early business transfers has failed to achieve its intended purpose and is in fact serving to act as an impediment to such transfers; and if he will make a statement on the matter. [20155/13]

Summary

195. Deputy Michael McGrath asked the Minister for Finance his views on whether the current rules regarding capital gains tax retirement relief on the transfer of certain business assets are fair and equitable in view of the fact that, for example, they impose a tax charge of €125,000 on an 85 year old who has been in business for 50 years, but zero tax on a 55 year old selling a similarly valued business after just ten years; if he is satisfied that the law introduced last year to promote early business transfers has failed to achieve its intended purpose and is in fact serving to act as an impediment to such transfers; and if he will make a statement on the matter. [20155/13]

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