If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Basic CGT Question

All Around You · 2016-06-30 16:56:51

I don't know how I haven't been able to find an answer to this myself but... Is CGT on a house sale 33% of the gain or 33% the total sale amount? Thanks.

30-06-2016 4:56pm

#1

All Around You

Registered Users, Registered Users 2 Posts: 21 ✭

Join Date: December 2015

Posts: 10

I don't know how I haven't been able to find an answer to this myself but...

Is CGT on a house sale 33% of the gain or 33% the total sale amount?

Thanks.

0

Comments

#2 30-06-2016 4:57pm

tea and coffee

Registered Users, Registered Users 2 Posts: 1,843 ✭✭✭

Join Date: December 2008

Posts: 1578

The gain

0
#3 30-06-2016 5:02pm

All Around You

Registered Users, Registered Users 2 Posts: 21 ✭

Join Date: December 2015

Posts: 10

Excellent. I know it's basic but I could not see an answer anywhere else.

The offers on our sale are currently at the amount we inherited it at, so I was freaking out that they'd go higher and we'd only end up with 2/3rds.

Thank you for answering so quickly.

0
#4 30-06-2016 5:26pm

tea and coffee

Registered Users, Registered Users 2 Posts: 1,843 ✭✭✭

Join Date: December 2008

Posts: 1578

http://www.revenue.ie/en/tax/cgt/

no worries! The first line of the website says "gains arising from the disposal of asset "

0
#5 30-06-2016 5:39pm

All Around You

Registered Users, Registered Users 2 Posts: 21 ✭

Join Date: December 2015

Posts: 10

Yeah that makes perfect sense now but my mind refused to acknowledge it before.

0
#6 30-06-2016 9:37pm

Geuze

Registered Users, Registered Users 2 Posts: 14,033 ✭✭✭✭

Join Date: July 2010

Posts: 13881

The answer lies in the name of the tax.

0
Advertisement
#7 30-06-2016 9:46pm

Lockedout2

Registered Users, Registered Users 2 Posts: 402 ✭✭

Join Date: March 2016

Posts: 401

Imagine the uproar if you had to pay tax on the proceeds!!!

0