What Will Be A Property Hotspot For 2008??? - Page 11

wghosh · #**101** 07-03-2008, 08:04 PM

Quote:

Originally Posted by jimbo

The coastline from Mexico to Costa Rica has tons of small towns that are now booming to be the next Puerto Vallarta and Manzanillo. This happening right now, I am living in the middle of it all and I can tell you the Costalegre areas are going to be hot, developement everywhere and tons of lots going for great prices for the size, location and quality.

i believe sheffield is the next property hotspot.

freezing cold temperatures, brick viaducts, congested city centre roundabouts, weirdshaped metal student union.. its got it all lol

Watson · #**102** 07-03-2008, 08:32 PM

Quote:

Originally Posted by wghosh

i believe sheffield is the next property hotspot.

freezing cold temperatures, brick viaducts, congested city centre roundabouts, weirdshaped metal student union.. its got it all lol

And you can get a row of terraces for 10k

wghosh · #**103** 07-03-2008, 08:37 PM

Quote:

Originally Posted by Watson

And you can get a row of terraces for 10k

hey . i tell the jokes round ere lol

good one mate

realtycn · #**104** 08-03-2008, 10:38 AM

The coastline from Mexico to Costa Rica has tons of small towns that are now booming to be the next Puerto Vallarta and Manzanillo. This happening right now, I am living in the middle of it all and I can tell you the Costalegre areas are going to be hot, developement everywhere and tons of lots going for great prices for the size, location and quality.

Jeremy Sturgess · #**105** 12-03-2008, 07:40 AM

America is worth keeping a close eye on. Prices are tumbling fast and the process of adjustment happens much quicker there than in most markets. Still too early but watch closely as the americans have cleverly devalued their currency faster than anyone else and this will attract massive inflows at some point.

I also like dollar based economies like Egypt where i have a project. Dollar priced assets look very good value for europeans and british investors with their v high currencies relative to the dollar. Swapping sterling or euros at these levels for undervalued dollar property assets is a no brainer on a medium term view.

Ive heard it said that Zimbabwe and Iran will be good bets if you can figure out how to buy anything there. Mugabe and whatshisname in Iran wont be around for ever and they are apparantly very beautiful countrys full of potential.

Im told also that Oman may be worth looking at.

Poor old europe and Uk with their very overvalued currencys are going to struggle for some time imho

Watson · #**106** 12-03-2008, 10:17 AM

Quote:

Originally Posted by mickthepropertyguru

Apparently there are more than 1,300 double taxation treaties world-wide and the UK has the largest network of treaties, covering over 100 countries.

Antigua and Barbuda, Argentina, Argentina, Austria, Azerbaijan, Bangladesh , Barbados, Belarus, Belgium, Belize, Bolivia, Bosnia-Herzegovina, Botswana, Brunei, Bulgaria, Canada, Chile, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Falkland Islands, Faroes, Fiji, Finland, France, Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guernsey, Guyana, Hungary, Iceland, India, Indonesia, Ireland (Republic of ), Isle of Man, Israel, Italy, Ivory Coast (Côte d'Ivoire), Jamaica, Japan, Jersey, Jordan, Kazakhstan, Kenya, Kiribati, Korea (Republic of), Kuwait, Latvia, Lesotho, Lithuania, Luxembourg, Macedonia, Malawi, Malaysia, Malta, Mauritius, Mexico, Mongolia, Montenegro, Montserrat, Morocco, Myanmar (Burma), Namibia, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Papua New Guinea , Philippines, Poland, Portugal, Romania, Russian Federation, St Kitts and Nevis, Serbia, Sierra Leone, Singapore, Slovak Republic (Slovakia), Slovenia , Solomon Islands, South Africa, Spain, Sri Lanka, Sudan, Swaziland, Sweden, Switzerland, Taiwan, Tajikistan
, Thailand , Trinidad and Tobago, Tunisia, Turkey, Turkmenistan , Tuvalu, Uganda, Ukraine, United States of America, Uzbekistan, Venezuela, Vietnam , Yugoslavia (Federal Republic), Zambia, Zimbabwe.

Ireland has double taxation treaties withe the following:
Australia, Austria, Belgium, Bulgaria, Canada, Chile, China, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, India, Israel, Italy, Japan, Korea, Latvia, Lithuania, Luxembourg, Malaysia, Mexico, Netherlands, New Zealand, Norway, Pakistan, Poland, Portugal, Portugal, Romania, Russia, Slovak Republic, Slovenia, South Africa, Spain, Sweden, Switzerland, United Kingdom ,United Kingdom Protocol, United States, United States Protocol, United States Competent Authority Agreement, Zambia

All the details for individual countries can be found on official government revenue site.

So does this mean as self-employed i pay no capital gains tax on property in Egypt? I ma in Ireland

Sunnyshores · #**107** 12-03-2008, 10:43 AM

as I understand it you pay CGT on property (or any other profits) that you hold anywhere in the world. An individual who is Self employed, unemployed, employed etc makes no difference to CGT.

The amount you pay depends on what your home country ie Ireland charges.

What I dont understand is : where there is a double tax agreement do only declare it in Ireland, or do you need to declare it in the overseas country too and then deduct this overseas amount from the Irish amount due.

I know this subject really needs an experts advice, but I just wondered about the procedure.

Watson · #**108** 12-03-2008, 10:53 AM

Quote:

Originally Posted by Sunnyshores

as I understand it you pay CGT on property (or any other profits) that you hold anywhere in the world. An individual who is Self employed, unemployed, employed etc makes no difference to CGT.

The amount you pay depends on what your home country ie Ireland charges.

What I dont understand is : where there is a double tax agreement do only declare it in Ireland, or do you need to declare it in the overseas country too and then deduct this overseas amount from the Irish amount due.

I know this subject really needs an experts advice, but I just wondered about the procedure.

I agree I was led to beleive I do not pay CGT in Ireland for the properties now I am totally confused. Time to seek an expert.

mickthepropertyguru · #**109** 12-03-2008, 11:19 AM

Quote:

Originally Posted by Watson

So does this mean as self-employed i pay no capital gains tax on property in Egypt? I ma in Ireland

Well in egypt there is no CGT at the moment. So when you sell your property you would'nt have to pay anything in Egypt but expected to declare any profit to your Irish government and pay 20% tax on the profit.

Capital Gain Tax in Ireland is 20%. Any income brought into Ireland from abroad is charged CGT at 20%. Dual tax treaties are there so what you pay in the country where you sell you wont have to pay again in the country you reside in. they are deducted from each other and the remainder you have to pay in the country you reside in. If there is no tax treaties with the country of your investment and the country you reside in then you have to pay the full CGT in each country.

But as an example if Egypt changes its CGT and lets say put it at 10%,
because Ireland has no Dual Taxation with Egypt you would have to pay 10% in Egypt and a futher 20% in Irleand. (30% in total)
But if Ireland had dual taxation with Egypt then the 10% you would pay in Egypt would be deducted from the CGT in Ireland and you would only pay 10% here in Ireland instead of the full whack.

Pressure needs to be put on Bertie to reform the Irish Dual Taxation system because any country that Ireland doesnt have a Tax treaty with leads to the investor paying the full CGT in each country.
Being self employed has no effectt on CGT Tax i believe. But as long as Egypt dosent raise the CGT then it doesnt matter but you will have to pay 20% in Ireland regardless.

Sunnyshores · #**110** 12-03-2008, 11:29 AM

Mick - so if Egypt did have CGT and a dual tax agreement you would have to fill the Egyptian tax forms in and then deduct this amount from the Irish bill?