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Is Is Market Value and Current Use Value same thing?

  • 27-07-2013 02:33PM
    #1
    Blue_Dabadee
    Registered Users, Registered Users 2 Posts: 1,556 ✭✭✭


    I am confused between the two.


Comments

  • #2
    myshirt
    Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    mxph3 wrote: »
    I am confused between the two.

    No, they are not.

    Is this a tax question? Or what angle are you coming at?


  • #3
    Blue_Dabadee
    Registered Users, Registered Users 2 Posts: 1,556 ✭✭✭Blue_Dabadee


    Yeah, this is capital gains tax question. What exactly is current use value for land?


  • #4
    myshirt
    Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    mxph3 wrote: »
    Yeah, this is capital gains tax question. What exactly is current use value for land?

    It is as described, what the value of the land is in it's current use, possibly as agricultural land.

    If the land is being sold for more than it's CUV, then it is development land. The implications are:

    You will get no indexation relief on the 'development potential' portion of your initial cost

    You will get no PPR relief on the 'development potential' portion of your initial cost

    Your gain on the disposal of development land may be ringfenced to losses on development land.

    If you go to Revenue.ie they will have a information booklet you can download.


  • #5
    Blue_Dabadee
    Registered Users, Registered Users 2 Posts: 1,556 ✭✭✭Blue_Dabadee


    So, do i ignore current use value for non-development land?


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