V vicar Registered User Messages 19 29 May 2006 #1 Hi guys Bought ahouse 2 yrs ago and now need to sell to start up new business. My question is what can I deduct before paying CGT @ 20% Cost in 2004 €200,000 stamp duty 8,000 Legal fees 04 1,500 Selling fees 2006 House selling for €295,000 Estate agent fees 2.600 Legal fees 1,500 Furniture/fittings 10,000 I know i cant deduct the stamp duty but out of my gross profit of €95,000 what can I deduct before I pay my 20% CGT thanks in advance V.
Hi guys Bought ahouse 2 yrs ago and now need to sell to start up new business. My question is what can I deduct before paying CGT @ 20% Cost in 2004 €200,000 stamp duty 8,000 Legal fees 04 1,500 Selling fees 2006 House selling for €295,000 Estate agent fees 2.600 Legal fees 1,500 Furniture/fittings 10,000 I know i cant deduct the stamp duty but out of my gross profit of €95,000 what can I deduct before I pay my 20% CGT thanks in advance V.
D delgirl Registered User Messages 1,322 29 May 2006 #2 You can deduct acquisition and sales costs (including Estate Agent, legal, advertising/survey costs), any renovation/structural costs incurred during the period of ownership plus personal exemption. See here for Revenue's guide.
You can deduct acquisition and sales costs (including Estate Agent, legal, advertising/survey costs), any renovation/structural costs incurred during the period of ownership plus personal exemption. See here for Revenue's guide.