Capital Gains Tax Stamp duty

[paulh13]

Hi. Can the stamp duty paid on the purchase of an investment property now be offset against the capital gains tax due on its sale
Thanks

 

[Gordon Gekko]

It can indeed.

 

[Mrs Vimes]

Stamp Duty can be deducted in calculating the gain for CGT purposes but not offset in the way CGT and CAT can be on the same transaction.

 

[AAAContributor]

As Mrs Vimes said above, the stamp duty paid on the purchase cannot be offset against the capital gains tax due on the sale but it can be included as a deduction in the calculation of the chargeable gain on the property. Source - paragraph 10.5 here:

https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-19/19-02-10.pdf