S
Spice Girl
Guest
Can anyone recommend a book re the ins and outs of property investment? Also, is stamp duty an expense you are allowed claim as an expense?
Plenty of books out there, depending on the market you are after. While I wouldn't take much heed of many of them, there was one that I remember seeing recently about buying in Spain that was accurate and useful. Will post the name of it if I see it again.
In general though, I would shudder at the thought that somebody would venture large amounts of capital on the basis of a book on the subject. Best way to learn about property is to work in the area -- even part time, attend auctions, talk to builders and developers etc. In short, immerse yourself in the business for a while before thinking of parting with money.
After all that, read up on it certainly, but by then you will be able to take much of the writen material with a large grain of salt.
The only secret you need to know in property is to "buy cheap, sell dear". You achieve this by being ahead of the crowd, not by following them.
Good luck!
In general though, I would shudder at the thought that somebody would venture large amounts of capital on the basis of a book on the subject. Best way to learn about property is to work in the area -- even part time, attend auctions, talk to builders and developers etc. In short, immerse yourself in the business for a while before thinking of parting with money.
After all that, read up on it certainly, but by then you will be able to take much of the writen material with a large grain of salt.
The only secret you need to know in property is to "buy cheap, sell dear". You achieve this by being ahead of the crowd, not by following them.
Good luck!
tosullivan
Registered User
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- 1,747
Not against rental income. The stamp duty is only an expense you are allowed to claim when you sell the investment and you can offset it against your CGT
Surely if you are going to claim Stamp Duty as an expense, then would it not trigger alarm bells for Revenue who would wonder why you are not paying income tax on the profit rather than CGT?
But you are liable for both income tax and CGT on an investment property??? Income tax on rental income (less expenses) and CGT on profit when selling.
Thanks for the clarification CCOVICH. tosullivan got me confused when he stated that you can offset Stamp Duty against CGT when you sell. I don't think that sounds right...
S
Spice Girl
Guest
I actually meant a book which gives you advice on doing buy-to-let in Ireland. What your tax obligations are and any tips on saving money/maximising profit. Sorry for not being clearer.
I'll give you advice for free..........Don't, prices are too high in Ireland and rental income is too low
HostBidder
Registered User
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You might find some of the books at the link below useful.
Am a bit new to all this, just found this website - blimey all the answers I've been looking for!
Anyhoo, last year I bought an Irish book called the 'TAB Guide to Property 2006' - looking at your question it has all the answers you want, including detail on tax, brokers, buying abroad, rent, VAT etc. I found it great, but not saying for definite you would.
Got it in Easons last summer, just looked at back of book they have a website www.tab.ie.
Right, that's my first post over with!
Anyhoo, last year I bought an Irish book called the 'TAB Guide to Property 2006' - looking at your question it has all the answers you want, including detail on tax, brokers, buying abroad, rent, VAT etc. I found it great, but not saying for definite you would.
Got it in Easons last summer, just looked at back of book they have a website www.tab.ie.
Right, that's my first post over with!