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Selling a Rental property

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  • 20-11-2017 5:36pm
    #1
    Isgregalive
    Registered Users Posts: 17 ✭


    We currently live abroad but own a house here that's rented out and are considering selling next year and trying to get a clear picture of what percentage off taxes we will be liable for when we sell.
    We're probably looking at a gain of approx. EU100K if the market maintains it's current form.

    We understand that we will owe Capital Gains but as foreign residents are there any strategies that anyone knows of that would be beneficial?
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    #2
    Claw Hammer
    Registered Users Posts: 6,167 ✭✭✭Claw Hammer


    Isgregalive wrote: »
    We currently live abroad but own a house here that's rented out and are considering selling next year and trying to get a clear picture of what percentage off taxes we will be liable for when we sell.
    We're probably looking at a gain of approx. EU100K if the market maintains it's current form.

    We understand that we will owe Capital Gains but as foreign residents are there any strategies that anyone knows of that would be beneficial?

    It is impossible to say, given the information provided. If you ever lived in the house it would make a difference. This thread is more suited to the taxation forum in any event. Given the size of the gain professional advice should be sought.


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    #3
    Bold Abdu
    Registered Users Posts: 212 ✭✭Bold Abdu


    A €100K gain is going to give you an absolute max liability of c€30K.

    However, this can be reduced significantly if you ever lived in property or carried out improvements to the property etc.

    A recent client with €130K gain had a liability of just under €3K. All cases are different so without details it's impossible to say how much you would be looking at.


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    #4
    Isgregalive
    Registered Users Posts: 17 ✭Isgregalive


    Bold Abdu wrote: »
    A €100K gain is going to give you an absolute max liability of c€30K.

    However, this can be reduced significantly if you ever lived in property or carried out improvements to the property etc.

    A recent client with €130K gain had a liability of just under €3K. All cases are different so without details it's impossible to say how much you would be looking at.


    We’ve never lived in the house but have spent about 10K renovating the house this year and will most likely have to spend about 5K to get it ready to sell.


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