Selling a site

[feicem]

Hi, My Uncle is in the process of selling a 1/2 acre site subject to planning permission for a one off house. Planning permission hasn't been applied for yet. There would be a fairly large capital gain. Does he pay cgt at 25% or does the 80% windfall tax suggested under NAMA apply. He hasn't signed contracts yet and would take the site off the market if the tax rate were 80%.

 

[feicem]

http://www.independent.ie/farming/news-features/site-sales-to-be-hit-by-80pc-nama-tax-1892500.html

This article suggests that my uncle would pay 80 % cgt on the gain from selling the site. Does anybody know when this would take effect or if it's just hot air?
He should know what the tax amount is before he signs any contract.