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CGT on property sale??

  • 28-10-2020 7:24pm
    #1
    chicorytip
    Registered Users, Registered Users 2 Posts: 4,259 ✭✭✭


    Hello. Would there be a Capital Gains Tax liability on the sale of a property - the principle private residence of the seller - where there is a difference or gain of 18,500 euro between the purchase and selling prices?


Comments

  • #2
    LaQuica
    Registered Users, Registered Users 2 Posts: 19 ✭LaQuica


    Assuming you have occupied the property for the entire period of ownership, you will be able to claim PPR relief for 100% of the CGT liability.


  • #3
    chicorytip
    Registered Users, Registered Users 2 Posts: 4,259 ✭✭✭chicorytip


    LaQuica wrote: »
    Assuming you have occupied the property for the entire period of ownership, you will be able to claim PPR relief for 100% of the CGT liability.
    Yes, I have occupied the property for the entire ownership period. Are you saying that a payment should be made and then an application for a full rebate submitted, or not? Should the Revenue be notified of the sale, in any event, even if there is no payment due?


  • #4
    LaQuica
    Registered Users, Registered Users 2 Posts: 19 ✭LaQuica


    chicorytip wrote: »
    Yes, I have occupied the property for the entire ownership period. Are you saying that a payment should be made and then an application for a full rebate submitted, or not? Should the Revenue be notified of the sale, in any event, even if there is no payment due?

    No payment will have to be made but you should file a CGT return anyway - Form CG1 if you are a PAYE worker, or Form 11 if you have other sources of income.


  • #5
    Highroad12
    Registered Users, Registered Users 2 Posts: 43 ✭Highroad12


    chicorytip wrote: »
    Hello. Would there be a Capital Gains Tax liability on the sale of a property - the principle private residence of the seller - where there is a difference or gain of 18,500 euro between the purchase and selling prices?

    No CGT on PPRs


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