Stephen Donnelly (Wicklow, Social Democrats) | Oireachtas source

Amendment No. 100 says that capital gains tax will not be paid by anybody once it is held for five years. On exclusions from the withholding tax - exclusions from being a specified person - the amendment cites pension funds, investment undertakings, life businesses, credit unions, qualifying companies, section 110 organisations and so forth. I want to walk through this, rather than getting caught in the acronyms. Pension funds that do not pay tax bills will continue to pay no tax and that is fine. Life assurance companies do pay tax, or at least until a few years ago they did pay tax. Is there any situation in which a life assurance company will be taxed on profits from property?