cgt

jeffwebb36

I am considering selling my apt which is rented out I do not need the money, but I find it difficult to work with the RTB. Taking that I do not need the money and I do not want to buy another apt because of relations with the RTB. Would investing the proceeds in the stock exchange prevent me receiving a CGT bill

bilbot79

I'm not the expert but I think you add up your profits and losses in the year and calculate CGT thereof.

I reckon if you booked a profit on the apartment and bought stock you'll pay the CGT on the apartment unless in the same year you book a loss on the stock or your overall profit is under 1200

namloc1980

Assuming you have made a capital gain on the apartment you will have to pay CGT on that, again assuming you have no loss to offset against it and your chargeable gain is more than €1,270. The stock market isn't a shelter for CGT.

cronos

What were the issues with the RTB out of curiosity. Might be useful for anyone who would consider such an investment to hear the experience.

jeffwebb36

cronos wrote: »

What were the issues with the RTB out of curiosity. Might be useful for anyone who would consider such an investment to hear the experience.

Tenants flooded my apt and acted agressively to a neighbor who complained about water damage to his apt. I asked the RTB to tell my tenants to cease causing damage to my apt. The RTB failed to do so, and my tenants flooded the apts again......incidently i did go to 4 solicitors who told me they will not get involved the rtb are a law unto themselves. I also sent 3 e mails to the housing minister as yet no answer.
I do have evidence of the above

jeffwebb36

bilbot79 wrote: »

I'm not the expert but I think you add up your profits and losses in the year and calculate CGT thereof.

I reckon if you booked a profit on the apartment and bought stock you'll pay the CGT on the apartment unless in the same year you book a loss on the stock or your overall profit is under 1200

I actually own six apts in ireland three i rented to a property management company one has a long spiral staircase which my knees will not stand up to, and one (which might be sold) has been taken away from me by my tenants and the RTB. At present i am living in a student apt I own, but according to the lease/planning permission I am not allowed to live here. Therefore strictly speaking i am homeless. If i sold the apt the RTB are interferring with could I use the money to buy a house to live in without paying CGT

cronos

jeffwebb36 wrote: »

Tenants flooded my apt and acted agressively to a neighbor who complained about water damage to his apt. I asked the RTB to tell my tenants to cease causing damage to my apt. The RTB failed to do so, and my tenants flooded the apts again......incidently i did go to 4 solicitors who told me they will not get involved the rtb are a law unto themselves. I also sent 3 e mails to the housing minister as yet no answer.
I do have evidence of the above

Interesting good to know. Sorry for the pain.

Strange thing for someone to do flood an apartment? Any ideas how they are doing it exactly.

It does scare me to tie up so much capital in one thing and then you can get super unlucky like this.

jeffwebb36

cronos wrote: »

Interesting good to know. Sorry for the pain.

Strange thing for someone to do flood an apartment? Any ideas how they are doing it exactly.

It does scare me to tie up so much capital in one thing and then you can get super unlucky like this.

They reported the bath was leaking, because one week later I had not bought a new bath they threatened to flood my apt and the block. I considered the threat alone was a criminal act and reported it to the RTB but it seems they support criminals they did nothing so my tenants did as they promised they flooded my apt and the block to the point where water was dipping from my 3 floor apt to basement car park and all points in between. This criminal act was reported to the rtb by me the complex management, and at least one apt rental manager and still no action by the RTB. It does seem some people are frigtened by my tenants but i cannot see how such fear could spread to RTB staff

bilbot79

jeffwebb36 wrote: »

I actually own six apts in ireland three i rented to a property management company one has a long spiral staircase which my knees will not stand up to, and one (which might be sold) has been taken away from me by my tenants and the RTB. At present i am living in a student apt I own, but according to the lease/planning permission I am not allowed to live here. Therefore strictly speaking i am homeless. If i sold the apt the RTB are interferring with could I use the money to buy a house to live in without paying CGT

If you could say that apartment was your principal private residence I don't think you'd pay cgt

cronos

jeffwebb36 wrote: »

They reported the bath was leaking, because one week later I had not bought a new bath they threatened to flood my apt and the block. I considered the threat alone was a criminal act and reported it to the RTB but it seems they support criminals they did nothing so my tenants did as they promised they flooded my apt and the block to the point where water was dipping from my 3 floor apt to basement car park and all points in between. This criminal act was reported to the rtb by me the complex management, and at least one apt rental manager and still no action by the RTB. It does seem some people are frigtened by my tenants but i cannot see how such fear could spread to RTB staff

I'm curious how landlord insurance will cover in such a scenario. I'd imagine they would be interested to see the threat.

Geuze

jeffwebb36 wrote: »

I am considering selling my apt which is rented out I do not need the money, but I find it difficult to work with the RTB. Taking that I do not need the money and I do not want to buy another apt because of relations with the RTB. Would investing the proceeds in the stock exchange prevent me receiving a CGT bill

What you do with the proceeds of the sale of an asset is not relevant to CGT.

You don't "receive" a CGT bill.

Timmaay

Geuze wrote: »

What you do with the proceeds of the sale of an asset is not relevant to CGT.

You don't "receive" a CGT bill.

The only way stocks can help a cgt from the apartment sale is if ya makes a big loss on stock's to offset it. Don't think I'd suggest that as a motive to go into stocks lol.