CGT for Sale of Property

irishguy1012

Hello all,

1. I am selling a property in 2023
2. How do I calculate CGT. Is it calculated as follows? (Sample Figures)
3. A - Sale Price of Property = 300,000
4. B - Cost of Property = 200,000
5. C - Cost of estate agent fees = 1,000
6. D - Cost of solicitor = 1,000
7. E - CGT tax exemption = €1,270 
8. F - CGT Tax = 33%

Is this formula correct? =(((A2-B2)-(C2+D2))-E2)*0.33 = 31920.9

Thanks in advance,

K

SureYWouldntYa

Yes that would all be correct

If the property was purchased pre 2002 then indexation would apply, increasing the base cost in deducting your chargeable gain

Any legal/auctioneering/stamp duty costs associated with purchasing the property would also be deductible

namenotavailablE

If the property is the OP's principal private residence, don forget to deduct PPR relief.