N
Notsonwbie
Guest
Hi folks,
Am I right in saying if a parent transfers land to a son which is </= one acre and with a value of </= €500,000 for the purposes of constructing a principal private residence, there are no CGT implications?
Would the son have to have mortgage approval or planning permission to prove intent to construct?
Also there should be no CAT applied if value (assuming no other CAT during the year) was </=€414,799. Right?
Finally would any Stamp Duty be levied?
Thanks!
B
Am I right in saying if a parent transfers land to a son which is </= one acre and with a value of </= €500,000 for the purposes of constructing a principal private residence, there are no CGT implications?
Would the son have to have mortgage approval or planning permission to prove intent to construct?
Also there should be no CAT applied if value (assuming no other CAT during the year) was </=€414,799. Right?
Finally would any Stamp Duty be levied?
Thanks!
B