FORUM
  Home
  Forums
  Photo Gallery
  TLF Donations
  Forum Rules
  Register
  LINKS
  Property Buying Guide
  Didim Google Map
  Weather Station
  FUN
  Arcade Games
  Daily Crossword
  Jen's Chat Room
  Lira Exchange Rates
Old 2nd November 2016, 17:02   #1 (permalink)
Senior Member
 
juco's Avatar
 

Thanks: 626
Thanked 7,531 Times in 3,115 Posts
juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute
Capital gains tax

Fictitious scenario (Turkey), but I am curious.

Lets assume I have had my property for over 5 years so therefore I would not pay capital gains tax in Turkey if I sold, however I die and it goes to my son who would now be a new owner.
Would my son therefore have to pay capital gains tax if he sold within 5 years?
Or would the exemption be carried over as it was inherited.
__________________
J

Don't believe those who by wealth are sheltered from reality.
juco is offline send PM Reply With Quote Share on facebook
Old 2nd November 2016, 17:17   #2 (permalink)
20 - 12 - 3
 
yalimart's Avatar
 

Thanks: 12,022
Thanked 19,380 Times in 8,357 Posts
yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute
Re: Capital gains tax

Just asked my wealth management specialist she is of the opinion it is a capital gain for him so yes cgt would be due, worse still cgt would likely be payable here in the U.K., your son only having his cgt allowances here to offset.
I asked her while she was making pea and ham soup so there was no referencing or research to her answer just a flick of a serving spoon.

Martin
__________________
Born in Mancunia

3 Trophies in 10 days
yalimart is offline send PM Reply With Quote
Old 2nd November 2016, 17:32   #3 (permalink)
20 - 12 - 3
 
yalimart's Avatar
 

Thanks: 12,022
Thanked 19,380 Times in 8,357 Posts
yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute yalimart has a reputation beyond repute
Re: Capital gains tax

Whist she was shredding the ham into the soup she also said depending upon the rest of your estate as well as cgt it could also be liable for IHT, take advice immediately ! Only joking !

Martin
__________________
Born in Mancunia

3 Trophies in 10 days
yalimart is offline send PM Reply With Quote
Old 2nd November 2016, 19:00   #4 (permalink)
Senior Member
 
juco's Avatar
 

Thanks: 626
Thanked 7,531 Times in 3,115 Posts
juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute juco has a reputation beyond repute
Re: Capital gains tax

Yes I know the UK side of things (or rather she does) but curious about how this would be done in turkey.

Quote:
I spoke with the Co op this morning, they tell me anything up to 12 weeks through them, The office of public guardian state up to 10 weeks on their website
P.S. we handed in our POA to the The office of public guardian today and they said there was a backlog and would be about June but if any urgency get back to them.
Total cost doing it DIY has been 228, that includes solicitor and registration charges.
Wife had to put the solicitor right on a couple of points, chancers the lot of them.
__________________
J

Don't believe those who by wealth are sheltered from reality.
juco is offline send PM Reply With Quote
The Following User Says Thank You to juco For This Useful Post:
yalimart (2nd November 2016)
Reply

Tags
capital , gains , tax



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Capital gains tax -how much did you pay? bigbrother Bodrum Forum 5 26th January 2012 17:52
Capital gains tax. parrot Tax Matters 11 10th November 2011 21:21
Help - capital gains tax LyndaCB Tax Matters 15 14th March 2010 11:45
Capital gains Tax marlyn Turkish Legal Helpdesk 12 14th October 2008 21:03
capital gains carol Turkish Legal Helpdesk 8 11th July 2006 21:05



All times are GMT +1. The time now is 15:15.
TurkishLiving.com tested by Norton Internet Security TurkishLiving.com tested by McAfee Internet Security
Powered by vBulletin® Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
SEO by vBSEO ©2011, Crawlability, Inc.
Style Provided By: Wrestling Clique - Wrestling Forums
TurkishLiving.com


1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155