login

Question asked:

0
0

Farm valued at €1 million, but child agrees to pay an artificial price of 300k to father for it. For CGT and CAT(and Stamp Duty) purposes the €1 million is used, as not deemed at arms length. At €1 million both retirement relief and agricultural relief still apply so no CGT or CAT. The son then buys a new property(residential) for his father for 300k, and this is deemed his payment for the farm. Is this scenario ok, in order for the father to not have a CAT issue when the son buys him the house?

Marked as spam
Posted by (Questions: 5, Answers: 1)
Asked on 6 December 2018 4:36 pm
12 views