A son received farmland from his father two years ago, the land was valued then at €13,000 an acre.
The son has now transferred a site of two acre to his sister. She is ok for cat as she gave him part payment for the site.
The CGT after legal fees, stamp duty etc calculated is approx €10,000, due to the market value of the site being €80,000.
Is the above figure not excessive considering two acres agricultural land two years ago would have been €26,000?
Two acres were transferred, shouldnt some of the land transferred be classified as agricultural land as the daughter has a site for house and a field!
The son has now transferred a site of two acre to his sister. She is ok for cat as she gave him part payment for the site.
The CGT after legal fees, stamp duty etc calculated is approx €10,000, due to the market value of the site being €80,000.
Is the above figure not excessive considering two acres agricultural land two years ago would have been €26,000?
Two acres were transferred, shouldnt some of the land transferred be classified as agricultural land as the daughter has a site for house and a field!