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House bought in 2013 = no tax

  • 22-01-2020 7:01pm
    #1
    Barr
    Registered Users, Registered Users 2 Posts: 7,023 ✭✭✭


    Hi All


    Just looking to see if there is truth to this , from someone in the know.


    If you bought a house for rental in 2013 and sold it this year. Is it correct you pay no Capital Gains Tax ?


    Does this sound correct . Is there a catch somewhere.


    Thanks

    Barr


Comments

  • #2
    Stratvs
    Registered Users, Registered Users 2 Posts: 958 ✭✭✭Stratvs


    I think this is the scheme of relief to which you refer.
    https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-19/19-07-03a.pdf


  • #3
    Barr
    Registered Users, Registered Users 2 Posts: 7,023 ✭✭✭Barr


    Thanks , that is it .

    It looks to apply to all property sold with in that period.

    I thought it may have only have applied to property which was purchased to live in .

    However, it seems to apply to rental property as well.


  • #4
    Stratvs
    Registered Users, Registered Users 2 Posts: 958 ✭✭✭Stratvs


    Barr wrote: »
    Thanks , that is it .

    It looks to apply to all property sold with in that period.

    I thought it may have only have applied to property which was purchased to live in .

    However, it seems to apply to rental property as well.

    If it was your residence throughout the period then there would have been no CGT anyway as it doesn't apply to the sale of your PPR.


  • #5
    The Student
    Registered Users, Registered Users 2 Posts: 1,283 ✭✭✭The Student


    Barr wrote: »
    Thanks , that is it .

    It looks to apply to all property sold with in that period.

    I thought it may have only have applied to property which was purchased to live in .

    However, it seems to apply to rental property as well.

    You are correct it does apply to all property, essentially it was the govts attempt to revive the construction industry.

    Just be careful regarding the years you had it etc to ensure you avoid any CGT.

    Well done, wish I was in a position to buy then.


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