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When is the value determined for Capital Acquisitions Tax

  • 06-05-2014 10:43pm
    #1
    Cookiedough82
    Registered Users, Registered Users 2 Posts: 4 ✭


    I just need some clarification regarding CAT. My parents drew up a transfer of deeds so that I can get the deeds on a property when they have paid off the mortgage in a few months. I know that capital gains tax is determined by the date on the contract on the transfer of deeds but would I be correct in thinking that CAT is valued as the market value of the property on the date the actual deeds are signed to my name?


Comments

  • #2
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    Contact a solicitor


  • #3
    Cookiedough82
    Registered Users, Registered Users 2 Posts: 4 ✭Cookiedough82


    Well no, it's a tax consultancy area more than legal. My tax consultant was on holiday which is why I was asking on here. And my solicitor didn't know.


  • #4
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    When the moderator tells you to contact a professional it's a polite way of saying that your query is not appropriate to a public forum and you should get professional advice.


  • #5
    mozattack
    Registered Users, Registered Users 2 Posts: 1,908 ✭✭✭mozattack


    Alan Shore wrote: »
    When the moderator tells you to contact a professional it's a polite way of saying that your query is not appropriate to a public forum and you should get professional advice.

    Funny that you had to explain that!... love it


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