62 Deputy Joan Burton asked the Tánaiste and Minister for Finance if, in relation to the exemption from capital gains tax enjoyed by sporting and certain other bodies provided that no portion of the body’s income or property is paid or transferred, directly or indirectly, by way of dividend, bonus or otherwise howsoever by way of profit, to the members, the use by such a body of the capital sum paid to it in connection with a land swap deal for the purposes of subsidising membership fees at a rate that would otherwise be uneconomic and unsustainable could be held to amount to a return of profits by the body to its members and so be in breach of the rules relating to the exemption from CGT for such bodies; and if he will make a statement on the matter. [5892/08]

Summary

62 Deputy Joan Burton asked the Tánaiste and Minister for Finance if, in relation to the exemption from capital gains tax enjoyed by sporting and certain other bodies provided that no portion of the body’s income or property is paid or transferred, directly or indirectly, by way of dividend, bonus or otherwise howsoever by way of profit, to the members, the use by such a body of the capital sum paid to it in connection with a land swap deal for the purposes of subsidising membership fees at a rate that would otherwise be uneconomic and unsustainable could be held to amount to a return of profits by the body to its members and so be in breach of the rules relating to the exemption from CGT for such bodies; and if he will make a statement on the matter. [5892/08]

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• Tax Code.

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