Offsetting Capital Gains Liability

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    • #191383
      Bergerac
      Participant

      Can anyone advise if the capital (not the interest) already repaid on a mortgage can be offset against the 3% retention withheld from the selling price to cover the potential capital gains liability on a non-resident owned property?

    • #191413

      You cannot offset the capital already repaid against the 3% retention.

      The 3% of the sale price will always be retained indepently the offset of capital, the charges of the constitution of a mortgage etc. etc.

    • #191599
      Bergerac
      Participant

      Many thanks for the information

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