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Property Sale Capital Gains Tax (CGT)

  • 02-01-2020 2:41pm
    #1
    egg102530
    Registered Users, Registered Users 2 Posts: 30 ✭


    I am an Irish national returning to Ireland to live in a property that I own and have had rented out since mid-2015. I have never lived at the property previously.

    I am struggling to find clear advice in relation to CGT payable should I choose to sell in the near/medium term future. I expect to need the property myself for at least a year at which point I may want to trade up and sell the place. Whether or not I do this will depend partly on tax implications.

    Does anyone have any experience or knowledge on the rules or guidance on this or a list of things that will help my case should I wish to sell.


Comments

  • #2
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    egg102530 wrote: »
    I am an Irish national returning to Ireland to live in a property that I own and have had rented out since mid-2015. I have never lived at the property previously.

    I am struggling to find clear advice in relation to CGT payable should I choose to sell in the near/medium term future. I expect to need the property myself for at least a year at which point I may want to trade up and sell the place. Whether or not I do this will depend partly on tax implications.

    Does anyone have any experience or knowledge on the rules or guidance on this or a list of things that will help my case should I wish to sell.

    This may be of use. https://www.revenue.ie/en/gains-gifts-and-inheritance/cgt-reliefs/principal-private-residence-ppr-relief.aspx


  • #3
    Marcusm
    Registered Users, Registered Users 2 Posts: 10,633 ✭✭✭✭Marcusm


    egg102530 wrote: »
    I am an Irish national returning to Ireland to live in a property that I own and have had rented out since mid-2015. I have never lived at the property previously.

    I am struggling to find clear advice in relation to CGT payable should I choose to sell in the near/medium term future. I expect to need the property myself for at least a year at which point I may want to trade up and sell the place. Whether or not I do this will depend partly on tax implications.

    Does anyone have any experience or knowledge on the rules or guidance on this or a list of things that will help my case should I wish to sell.

    With very limited exceptions, non-residents are within the charge to Irish CGT on irish property assets. If you sold before you moved to Ireland, CGT would arise on any chargeable gain in the same manner as to a resident (apart from piss withholding issues for purchaser). Any period for which you occupy the property as a principal private residence may give rise to a part exemption.


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