Principal Private Residence (PPR)

taxdummy

I've got a situation that I'm trying to understand, I currently own a house that's lying empty, it's not rented out nor ever was, nor is there any mortgage on it (if that makes any difference). It's the only property that I own, but I don't live there (I do live in the state). My question is, would revenue view this house as my Principal Private Residence (PPR)? Incidentally, it is my registered address on revenue.

Daxve

Have a look at this tax and duty manual

https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-19/19-07-03.pdf

"the dwelling house must have been occupied by the individual as his or her principal private residence (“PPR”) throughout his or her period of ownership of the house. Where the house is not so occupied during the whole period of ownership, only the proportion of the gain applicable to the period of occupation is exempt."

So to be considered your PPR you must have occupied the property or if you only occupied it for a portion of the period of ownership only the period of occupation counts (plus the last 12 months). As you have never occupied the property it can't be claimed as your PPR. 

taxdummy

Many thanks for the reply, I have actually live in the house the majority of my life but I don't atm, I guess where I'm coming from, is at what stage do revenue not view it as my PPR and how do they know? If it's still my address on revenue, for all they know it's were I'm living now, as oppose to it being empty. I'm currently living with my partner in other part of city.

Xander10

https://www.boards.ie/discussion/comment/119471242#Comment_119471242

You will get a proportion of PPR relief, for the years you lived in it plus the last 12 months of ownership