CGT on rental property

[rush]

Hello ,

Is stamp duty for purchasing a rental property an allowable expense against CGT when selling the rental property?
It is not clear on revenue.ie.

Thanks, Best Regards

 

[T McGibney]

Most definitely yes.

 

[AAAContributor]

Stamp duty is an allowable incidental cost of acquisition.

Revenue have confirmed it in Section 10.5 of this guidance document:

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

 

[ClubMan]

Any use?

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

Edit: post crossed with previous ones.

 

[rush]

Thanks all, Section 10.5 paragraph B explicitly outlines that then!

 

[rush]

And a slightly more embarrising question..
I bought the property in 2006 and dont recall how much stamp duty I payed at the time. Can't find the records.
Should my solicitor at the time have it or any other tips to calculate?

Thanks, Best Regards

 

[ClubMan]

Are the rates here of any use?

https://www.revenue.ie/en/corporate/documents/statistics/archive/statistical-report-2006.pdf

 

[rush]

Yes, thank you, they are what I need.
I will also check with solicitor if he has the record.
Best Regards

 

[T McGibney]

I will also check with solicitor if he has the record.

You won't need it.