Tax implications for buying a site from brother

[pkelle01]

What are the 2009 tax implications for buying a site from my brother in terms of Stamp Duty, CAT and GCT. The site will need to be transferred from my brother. Not sure if the first 43,400 value of the site is exempt from tax as I am buying it from my brother. Any feedback would be welcome. Thanks

 

[mf1]

1. He has a CGT liability.
2. You'll pay stamp duty but at half the normal rate as you are related
3. You will have a CAT situation unless you paying full market value but you have the threshold exemption as you say and it may be possible to offset any CAT against CGT.

Maybe post the figures for a more detailed response

mf