Module Code - Title:

TX6002 - CAPITAL TAXES

Year Last Offered:

2023/4

Hours Per Week:

Lecture

2

Lab

0

Tutorial

1

Other

0

Private

0

Credits

6

Grading Type:

Prerequisite Modules:

Rationale and Purpose of the Module:

This module is an introduction to the key features of the taxation of capital gains and the taxation of gifts and inheritances for individuals and also introduces stamp duty.

Syllabus:

The module covers the key issues in the computation of Capital Gains Tax including what constitutes an asset and a disposal, the charge to Capital Gains Tax and the administration of the taxation systems, as it relates to Capital Gains Tax. The module also covers the taxation of gifts and inheritances, the use of trusts and family partnerships for succession planning and the administration of Capital Acquisitions Tax. It involves referring to the relevant provisions of the legislative Acts governing Capital Gains Tax and Capital Acquisitions Tax and relevant case law throughout. The module introduces the basics of stamp duty.

Learning Outcomes:

Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)

Upon completion of this module students will be able to: Explain and critique the Irish Capital Gains Tax (CGT) and Capital Acquisitions Tax (CAT) systems as they relate to individuals; Compute the CGT and CAT liabilities for a broad range of taxpayers under varying circumstances; Understand and apply the rules relating to the administration of the CGT and CAT systems; Interpret the tax legislation and case law relevant to CGT and CAT to establish the relevant legislative provisions and precedents to be applied to practical case studies; Examine and explain the international aspects of CGT and CAT; Apply basic theoretical concepts to compute the Stamp Duty liability arising in a particular transaction.

Affective (Attitudes and Values)

Upon completion of this module students will be able to: Appreciate how the capital taxes operate to collect tax on capital transactions while offering significant reliefs to facilitate the transfer of assets to the next generation without undue hardship in the context of tax liabilities and assess the fairness of the system using the canons of taxation as a guide. Explore alternative ways to tax wealth.

Psychomotor (Physical Skills)

N/A

How the Module will be Taught and what will be the Learning Experiences of the Students:

N/A

Research Findings Incorporated in to the Syllabus (If Relevant):

N/A

Prime Texts:

Appleby, T. and O Hanlon, F. (2010) The Taxation of Capital Gains, Finance Act 2010 , Dublin: Irish Taxation Institute

Keogan, A. (Ed.) (2010) Law of Capital Acquisitions Tax, Finance Act 2010 , Dublin: Irish Taxation Institute

Maguire, T. (Ed.) (2010) Direct Tax Acts, Finance Act 2010 , Dublin: Irish Taxation Institute.

() Various professional & academic journal articles and conference papers providing a more critical view of current tax legislation and practice. ,

() Case studies sourced from the European Case Clearing House. ,

Other Relevant Texts:

Doyle, G. and Mulligan, E. (Eds.) (2010) Irish Taxation: Law and Practice, Finance Act 2010 , Dublin: Irish Taxation Institute

Martyn, J. and Reck, P. (2010) Taxation Summary, Finance Act 2010 , Dublin: Irish Taxation Institute

Programme(s) in which this Module is Offered:

Semester - Year to be First Offered:

Module Leader:

Elaine.Doyle@ul.ie