REAL PROPERTY GAINS TAX
1. Time Frame for Right of Appeal
Under Section 101 of the Act, the DG shall review an assessment within 12 months
from the date of receipt of the notice of appeal.
Under subsections 101(1A), (1B) and (1C) of the Act, where the DG requires a period
longer than 12 months to carry out the review under Section 101, the DG may within
30 days before the expiry of the 12 months, apply to the Minister of Finance for
On receipt of an application for an extension, the Minister may grant such extension
provided the extension shall not exceed a period of 6 months from the date of expiry
of the twelve-month period. The Ministerís decision is to be notified in writing
to the DG and shall be final.
It is proposed in the Finance Bill that subsection 18(1) of the Real Property Gains
Tax Act, 1976 be amended to include references to subsections 101(1A), (1B) and (1C)
to be consistent with the Act.
This amendment is to come into operation on 1st January 2001.
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© October 2000