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Transfer Deed Money
Posted: 02 Jan 2014 22:24
by Stevey40
Do you ever get your transfer deed money back ? Like when you sell your property do the new owners pay for the deeds to you or the government , or is it a one off fee in the beginning ?
Thanks
Re: Transfer Deed Money
Posted: 03 Jan 2014 08:20
by Nigel Howarth
Hi Stevey40
No you don't get your money back. The Property Transfer Fees are a tax that you pay to the government when a property changes hands. (It's the local equivalent of the Stamp Duty Land Tax (SDLT) that you pay in the UK when you purchase a property.)
However, when you sell your property Property Transfer Fees are an allowable expense that you can use to reduce your Capital Gains Tax liability.
Regards & Happy New Year,