Michael Healy-Rae (Kerry, Independent)
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55. To ask the Minister for Finance if a matter (details supplied) relating to milk quotas from 1983 to 2000 will be examined; and if he will make a statement on the matter. [47477/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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I am advised by Revenue that capital gains tax relief may arise under Section 538 of the Taxes Consolidation Act 1997 in respect of a loss incurred by the owner of a milk quota as a result of the abolition of such quotas in 2015. A claim for relief under Section 538 should be made by an individual in a tax return. The amount of the loss can be offset against gains made by an individual on the disposal of assets.

Where a milk quota was acquired by an individual by way of gift or inheritance, the individual concerned is treated as having acquired the milk quota at its market value at the time it was acquired. The amount of the loss is based on the market value of the quota at that time.