Gift Tax??

M

mickeyg

Registered User
Messages
321
If I was sold an apartment with a commercial value of €400,000 for €300,000 my understanding is that I would pay the Stamp Duty at the higher value.
Is there a gift tax liability? There is no blood relationship between the 2 parties!

m
 
Is there a gift tax liability?

Yes - 20% of value of gift over and above applicable threshold.

mf
 
And the seller will be assessable for CGT on the basis of the fair market value of the property and not the discounted sale price just in case that's of interest to you.
 
See this post. While this topic here relates to commercial property the general thrust outlined in the other topic still applies as far as I know.
 
You must log in or register to reply here.
Menu
Log in
Register