Hello everyone. Just about to apply for a SUSI grant for one of my children. In 2021 I received the proceeds for the sale of a property that I had been waiting to get rid of for years, I can tell you , I made a fine tidy loss on it . Do the proceeds for this loss-making transaction count as income for SUSI grant purposes ?
My understanding is that if you sell an asset eg house, shares etc, at a loss you are not liable to pay tax (CGT or income) on it. So I would say your 'loss' is definitely not income. I looked into this when I was obliged yo sell shares at a loss.
My understanding is that if you sell an asset eg house, shares etc, at a loss you are not liable to pay tax (CGT or income) on it. So I would say your 'loss' is definitely not income. I looked into this when I was obliged yo sell shares at a loss.
Thanks mct1 , but that would be from Revenue's point of view. I'm trying to see it through SUSI's eyes. Not sure if they would see it the same way and if not , there would be no point in applying. Thanks again.
These SUSI regulations seem to suggest that one’s income is adjusted upwards or downwards by the profit or loss made on the disposal of the asset divided by the number of years the property was held for ( in my case loss of €30k (€120k -€90k) / 20 years (2001-2021) i.e: adjustment that reduces my income calculation by €1500. I’d be more than happy with that. Am I reading correctly , guys ?