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Alan

A client purchased a Section 23 property in the year 2000/01 for €130,000. The Section 23 relief was 80% i.e. €104,000.
The expected sale proceeds are €40,000. If the sale goes ahead can the loss of €90,000 (€130,000 – €40,000) be fully offset against the Capital Gain on the sale of another property which is being sold. (This 2nd property is a commercial premises).

Or is the Capital Loss restricted in any way by the Section 23 Relief of €104,000 or is it restricted by €104,000 @ 41% = €42,640, which is the actual tax benefit the client obtained.

Thanks
Michael

RESOLVED
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Posted by (Questions: 46, Answers: 0)
Asked on 23 April 2015 10:12 am
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