Capital Gains/Acquisition needs to be sorted on fair market value, just in case the property price favours either one of you.
You are of course correct.My understanding was that this fair market value test only applies where there is a clear relationship between the seller and buyer, e.g. parent to child.
I don't see how you can pick up a bargain off market if it applied to all buy/sell scenarios. Let's say you are a buyer and go sale agreed directly with a homeowner seller. You agreed on a price that is €40k below market value. Surely most sellers would pull the deal if they are obliged to pay CGT on a €40k larger sale price?
What's the virtue that they were signalling?"eejits virtue-signalling on Twitter" ?
Sure that'd never happen!
Choosing to sell at a reasonable" price to a family instead of putting it on the market where an investor might have bought it.What's the virtue that they were signalling?
I assume this is a question of degree.Assuming they're telling the truth, and not pocketing cash on the side, there is no need to apply fair market value to the transaction in such a situation.
If you do that, I suspect stamp duty and CAT will be well down the list of concerns of the authorities....If I sell a €500k house for €50k to an unconnected third party out of charity are you telling me there are no stamp duty or CAT implications?
Assume it’s not money laundering.If you do that, I suspect stamp duty and CAT will be well down the list of concerns of the authorities....
How could one validly make such an assumption in relation to a transaction like that?Assume it’s not money laundering.
You can ponder that as easily as I can. The vendor's mental state and capacity to commit to a contract would be one concern. The rest is above my pay grade, sorry.What other concerns would there be?
It’s a thought experiment. Assume everyone is of sound mind and there is no crime involved.How could one validly make such an assumption in relation to a transaction like that?
It’s a thought experiment. Assume everyone is of sound mind and there is no crime involved.
You made a categorical claim as to the tax treatment and now seem to be unwilling to defend it.
Your words.So are there zero CAT or stamp duty implications?
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