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Winning a house in a competition - any tax due?

  • 24-01-2018 2:27pm
    #1
    NIMAN
    Registered Users, Registered Users 2 Posts: 34,697 ✭✭✭✭


    I was listening to a guy from a local soccer club on the radio today, and they are raffling off a house as 1st prize in a draw.

    Just wondering if you were lucky enough to win, would any CGT (or any tax) be owing on it?


Comments

  • #2
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    NIMAN wrote: »
    I was listening to a guy from a local soccer club on the radio today, and they are raffling off a house as 1st prize in a draw.

    Just wondering if you were lucky enough to win, would any CGT (or any tax) be owing on it?

    Capital acquisitions tax and stamp duty would the most relevant taxes.

    There is a straight out exemption from cat for winnings from betting and lotteries so that won't apply.

    I would presume that stamp duty would apply although covering the stamp duty may be part of the prize.


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