Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I wish to make a couple of points about this amendment, which deals with a new issue and one that I raised with Revenue recently. I wish to ask about how the amendment is drafted. I am obviously reading it wrong, so will the Minister take me through it? It states:

then that relief shall be given in respect of the gain only to the extent (if any) to which such relief would be given if, in computing the chargeable gain accruing on the disposal, there were excluded from the computation— (I) the amount by which the consideration for the disposal of the asset exceeds the market value of the asset on the date of the disposal, and [incidental costs under subparagraph II]

If a person raffled off a principal private residence, there was €500,000 in ticket sales and the property was worth €300,000, meaning a profit of €200,000, then the "relief shall be given in respect of the gain only to the extent (if any) to which such relief would be given if, in computing the chargeable gain accruing on the disposal," and we excluded "the amount by which the consideration for the disposal of the asset exceeds the market value", that being, the €200,000.