Capital Gains Tax Stamp duty

P

paulh13

Registered User

Messages

4

• 14 Mar 2023

• #1

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

 

G

Gordon Gekko

Registered User

Messages

7,848

• 15 Mar 2023

• #2

It can indeed.

 

M

Mrs Vimes

Registered User

Messages

1,125

• 15 Mar 2023

• #3

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.

 

A

AAAContributor

Registered User

Messages

449

• 15 Mar 2023

• #4

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