(1) In this section, tangible movable property shall not include a wasting asset within the meaning of section 560.
(2) Subject to this section, a gain accruing on a disposal by an individual of an asset which is tangible movable property shall not be a chargeable gain if the amount or value of the consideration for the disposal does not exceed €2,540.
(a) The amount of capital gains tax chargeable in respect of a gain accruing on a disposal within subsection (2) for a consideration the amount or value of which exceeds €2,540 shall not exceed 50 per cent of the difference between the amount of that consideration and €2,540.
(b) For the purposes of this subsection, the capital gains tax chargeable in respect of the gain shall be the amount of tax which would not have been chargeable but for that gain.
(4) Subsections (2) and (3) shall not affect the amount of an allowable loss accruing on the disposal of an asset, but for the purposes of computing under the Capital Gains Tax A
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