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Primary Residence & CGT

  • 21-05-2020 6:43pm
    #1
    WhyTheFace
    Registered Users, Registered Users 2 Posts: 462 ✭✭


    Hi,

    I bought an investment property in a provincial town 10 years ago. I have been renting an apartment in Dublin for the past 10 years and am in the process of purchasing it (not withstanding Covid etc).

    I will want to make the apt my primary residence.

    I presume for CGT purposes my investment property could never be considered by primary residence (even though it is currently the only property I own) seeing as I never lived there.

    Am I entitled to declare the apt I am due to buy as my primary residence once the deal goes through?

    Thanks in advance


Comments

  • #2
    Calahonda52
    Registered Users, Registered Users 2 Posts: 12,889 ✭✭✭✭Calahonda52


    yes

    “I can’t pay my staff or mortgage with instagram likes”.



  • #3
    Synode
    Closed Accounts Posts: 7,967 ✭✭✭Synode


    Only from the time you live there


  • #4
    WhyTheFace
    Registered Users, Registered Users 2 Posts: 462 ✭✭WhyTheFace


    [PHP][/PHP]
    Synode wrote: »
    Only from the time you live there

    I've been here 10 years and will be here til I buy my next home (how ever long away that may be!)


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