Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Stamp duty on mortgage

  • 30-10-2018 11:10pm
    #1
    Grainne1986
    Registered Users, Registered Users 2 Posts: 10 ✭


    I am purchasing my family home, I am living in the property at the moment. The value of the house is 300k and I am buying it for 200k does anyone know if I pay 1% of the purchase price of 200k or what the house is valued at which is the 300k? Thanks


Comments

  • #2
    TitianGerm
    Registered Users, Registered Users 2 Posts: 28,695 ✭✭✭✭TitianGerm


    Grainne1986 wrote: »
    I am purchasing my family home, I am living in the property at the moment. The value of the house is 300k and I am buying it for 200k does anyone know if I pay 1% of the purchase price of 200k or what the house is valued at which is the 300k? Thanks

    1% of €300,000.

    https://www.revenue.ie/en/property/stamp-duty/property-transferred-as-a-gift-or-inheritance/index.aspx

    There may also be CGT implications for the seller and CAT implications for yourself.


  • #3
    Grainne1986
    Registered Users, Registered Users 2 Posts: 10 ✭Grainne1986


    Thanks.
    I understand the capital gains tax for my siblings but what is CAT for me?
    Thanks


  • #4
    TitianGerm
    Registered Users, Registered Users 2 Posts: 28,695 ✭✭✭✭TitianGerm


    Grainne1986 wrote: »
    Thanks.
    I understand the capital gains tax for my siblings but what is CAT for me?
    Thanks

    You are buying an asset below market value so you will be liable to CAT on the difference between market value and price paid.

    Probably best brought up with your solicitor as there are quite a few things to consider including group threshold, CGT credit, small gift exemption and consideration paid.


Advertisement