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CGT and selling your home

  • 20-11-2017 10:09PM
    #1
    Owldshtok
    Registered Users, Registered Users 2 Posts: 292 ✭✭


    Is it correct that if you are selling your primary residence or home,in order to buy another residence in the state to move into and call home, that the transaction is exempt from capital gains tax?

    What's the liability if you sell your only property and move abroad permanently?


Comments

  • #2
    Tenigate
    Closed Accounts Posts: 849 ✭✭✭Tenigate


    If you sell your PPR, and the property has been your PPR since you first acquired it, there's no liability in either case... Whether you're selling it to move house, emigrate, etc.

    If there was ever a time you rented it out, left it vacant, lived elsewhere or used part of it for business, there will be a cgt liability.


  • #3
    Owldshtok
    Registered Users, Registered Users 2 Posts: 292 ✭✭Owldshtok


    Thanks.How would the rent a room scheme fit in there?


  • #4
    Tenigate
    Closed Accounts Posts: 849 ✭✭✭Tenigate


    The whole point of that scheme is there'll be no tax liability.. including cgt.


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