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Taxation of Property Transactions 2017

(7 CPD hours)

 

Tax question of the week #3

Question: Client bought property for €3m in 2008. He has a bank debt of €2.5m. There are no capital allowances on the property. The bank accepts €1m sale proceeds (market value) in settlement of the loan. The bank writes off the €1.5m capital. The bank also writes off €100k in interest arrears. What are the […]

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