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Further to a discussion at your seminar on Friday, I have the following scenario: A Town Renewal Comm Property purchased and in 2005 for €125k. CA's claimed on €90k construction costs. Ca's claimed to end Dec 15 of €84,600 (50% initial allowance & 4% per annum), TWDV 5,400. Property sold in 2016 (within 13 year rule) for €80,000. Also have debt write off of €60,000 on the property. A Balancing charge of €74,600 applies (proceeds 80k less written down value €5,400). Can rental losses be used against this balancing charge? Also am I correct that there is no CGT profit/loss due to the write off of the bank loan.

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Asked on 25 April 2016 12:52 pm