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Capital Gains Tax relief on properties

  • 18-11-2013 9:47pm
    #1
    Techyo
    Registered Users, Registered Users 2 Posts: 14 ✭


    Hi I have a question regarding how the market value of a property is determined. I am thinking of buying a property in the period of the CGT exemption relief. I have read that a limitation to this relief is that the property must be acquired for a consideration equal to the market value of the property. How is the market value determined and where would you find the market value of a property? Thanks


Comments

  • #2
    crackcrack30
    Registered Users, Registered Users 2 Posts: 1,161 ✭✭✭crackcrack30


    I presume that the market value would be the value on the open sales market rather than possibly a private sale i.e between family members which could be lowly priced?


  • #3
    Techyo
    Registered Users, Registered Users 2 Posts: 14 ✭Techyo


    So it would be what you pay for it on the open market would be the market value? Sorry if this is a stupid question but I don't know much about this.


  • #4
    Geuze
    Registered Users, Registered Users 2 Posts: 14,024 ✭✭✭✭Geuze


    Yes, correct.


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