I have a quick question. If one was to inherit a property valued at €360K (today) and sell it for €370K (6 months) . No CAT arises as one is within group 1 treshhold . One pays CGT on €10k. Am I right to assume one can then walk away with the bones of €368k. Any other taxes or pitfalls ?
On inheritace what is the effective acquisition price as far as the inheritor is concerned? Is it the original acquisition price (possibly indexed for inflation) or is the asset "repriced" to the market value at the time of inheritance? I just can't remember offhand.
OK - just checked it and you are correct on that point anyway.
Cost of Acquisition
..
The asset was acquired by way of an inheritance on a death, by way of a gift or on transfer from a trust, it is the market value at the date of death, gift or transfer that is to be used here.