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Capital Gains on Property

  • 05-04-2018 6:53pm
    #1
    dgtech
    Registered Users, Registered Users 2 Posts: 12 ✭


    I have a rental property that am going to put on the market soon. Also, I am thinking of putting my own principal residence on the market. The intention would be to combine the sales to get a better long term residence.

    If I sell the principle residence first I would have no capital gains. So I was thinking then to move into the rental property for a period of time, and then sell that. So could I reduce the capital gains on the rental property that way. However, I think that people cant keep buying and selling private residences over the year. So is there a time limit before you can resell a 2nd private residence.

    I know that the answer to the question" how much capital gains tax should you pay" is "as much as possible" in an ideal world where all investments work and you make great returns from investments. However I probably need as much finance as possible to move on.


Comments

  • #2
    adam88
    Registered Users, Registered Users 2 Posts: 1,610 ✭✭✭adam88


    dgtech wrote: »
    I have a rental property that am going to put on the market soon. Also, I am thinking of putting my own principal residence on the market. The intention would be to combine the sales to get a better long term residence.

    If I sell the principle residence first I would have no capital gains. So I was thinking then to move into the rental property for a period of time, and then sell that. So could I reduce the capital gains on the rental property that way. However, I think that people cant keep buying and selling private residences over the year. So is there a time limit before you can resell a 2nd private residence.

    I know that the answer to the question" how much capital gains tax should you pay" is "as much as possible" in an ideal world where all investments work and you make great returns from investments. However I probably need as much finance as possible to move on.

    Hi, I THINK once your living and registered in your rental house for a year and a day that that is regards as your ppr in terms of cgt


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