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Capitol Gains Tax Query

  • 30-01-2015 9:05am
    #1
    tranceenigma
    Registered Users, Registered Users 2 Posts: 155 ✭✭


    QQ:

    Purchase price of property 2010 = 300k
    What are the GCT costs if I were to sell this house:

    a) Today at the approx value of 260k
    b) Next year or so when its back to 300k

    Will there be a difference in either?


Comments

  • #2
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    Property advice is banned.

    What sort of person takes tax advice from an anonymous internet forum anyway.

    Sheesh.


  • #3
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    Mr. Incognito wrote: »
    Property advice is banned.

    What sort of person takes tax advice from an anonymous internet forum anyway.

    Sheesh.

    Maybe we could give him/her a hint though?!

    I.e. the G in CGT stands for GAIN; and a gain is when you .... an asset for more than you ..... it.


  • #4
    Geuze
    Registered Users, Registered Users 2 Posts: 14,033 ✭✭✭✭Geuze


    tranceenigma wrote: »
    QQ:

    Purchase price of property 2010 = 300k
    What are the GCT costs if I were to sell this house:

    a) Today at the approx value of 260k
    b) Next year or so when its back to 300k

    Will there be a difference in either?

    As was said, you have to make a GAIN, in order to be liable for CGT.


  • #5
    tranceenigma
    Registered Users, Registered Users 2 Posts: 155 ✭✭tranceenigma


    Thanks barneystinson & Geuze


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