I am about to sell a property in a country which has a double taxation agreement with Ireland.
So I understand that even thought there is a taxation agreement this only allows me a credit against my Irish tax. The CGT in SA in about 10%; so I would still be expected to pay the other 10%; but that there are also exceptions like an work I did on the house and cost of sales etc. What proof does the revenue require for this proof?
I don't have any receipts for any of it; all I have is an financial advisor's spreadsheet that he keeps of all costs. Would that be sufficient. He is not registered or anything.
I thought CGT was 20% here, but yes, the other 15% then.
The enhancement expenditure is reasonable yes, it probably only amounts to about €3-4K. I don't have the receipts cause they were done over 10 years ago; and I had a power of attorney who has done everything for me and I never asked him to keep the receipts as I didn't think that I would need them. As I said all I've got is an excel s/s that shows the expenditure over the last 12 years.