CAT Query - Purchase below Market value

Two of my uncles received a house as part of my grandmother's estate.
They are selling it to my brother for €50,000 below the Market Value.
It is my understanding that this is deemed a gift and CAT applies.

I understand that my brother would not be liable to CAT as the €25,000 gift would be covered under Group threshold B?
His girlfriend would be liable to CAT as follows:

25,000 minus Small Gift Exemption of €6,000 (3k per uncle) less 16,250 = 2750 x 33 % = €908

Would this be correct?

Also, both of my uncles are non - resident, will they need to file a CGT Return for the loss?

April93 said:

Also, both of my uncles are non - resident, will they need to file a CGT Return for the loss?

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Is there a loss?

Bear in mind that their CGT position is determined by the open market value of the property of the date of its sale to your brother.

T McGibney said:

Is there a loss?

Bear in mind that their CGT position is determined by the open market value of the property of the date of its sale to your brother.

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The value of the house per the probate is €150,000. My brother is buying the house for €100,000. I presume a more recent valuation will need to be done so. Will the CAT also apply to the current market value?

April93 said:

The value of the house per the probate is €150,000. My brother is buying the house for €100,000. I presume a more recent valuation will need to be done so. Will the CAT also apply to the current market value?

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Yes on both counts.

T McGibney said:

Yes on both counts.

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Thanks for your help!