The house being rented or not has no bearing on the CGT so no need to prove that.
Sales Price less costs 269,000
Less Purchase price translated into €. x indexation 1.356 = €89,532
Gain €179,468
PPR exemption 156/245 (12 years plus last 12 months)
Gain €65,195
Annual Exemption 1270
€63924 x 33% = Approx €21k
Improvements were made but no receipts.
Are the stamp duty and legal costs also indexed or just Flat rate, think it was £2800 all in.
Thanks for the advice lads, I have a Solicitor who is used to dealing with property but wanted to have an idea my self.
I don't think stamp duty is allowed, that wouldn't make sense.
But ideally you should get an accountant or your solicitor to do it.
The idea of a tax never being tax deductible has cropped up frequently in these pages in recent years, so much so that its now apparently being accepted as fact by some users. This is unfortunate as it is utterly untrue.I was probably thinking that it's a tax and so couldn't be tax deductable.
If you think that anyone can do a CGT computation with their eyes closed, then I'm afraid you have a very shallow appreciation of CGT and how it operates in the context of a property transaction.And while it's true that solicitors are not tax experts they are trained in certain taxes and a lot of them would be able to do CGT in particular with their eyes closed.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?