Basic CGT Question

All Around You · 2016-06-30 16:56:51

I don't know how I haven't been able to find an answer to this myself but... Is CGT on a house sale 33% of the gain or 33% the total sale amount? Thanks.

30-06-2016 05:56PM

#1

All Around You

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I don't know how I haven't been able to find an answer to this myself but...

Is CGT on a house sale 33% of the gain or 33% the total sale amount?

Thanks.

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#2 30-06-2016 05:57PM

tea and coffee

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The gain

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#3 30-06-2016 06:02PM

All Around You

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Excellent. I know it's basic but I could not see an answer anywhere else.

The offers on our sale are currently at the amount we inherited it at, so I was freaking out that they'd go higher and we'd only end up with 2/3rds.

Thank you for answering so quickly.

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#4 30-06-2016 06:26PM

tea and coffee

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http://www.revenue.ie/en/tax/cgt/

no worries! The first line of the website says "gains arising from the disposal of asset "

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#5 30-06-2016 06:39PM

All Around You

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Yeah that makes perfect sense now but my mind refused to acknowledge it before.

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#6 30-06-2016 10:37PM

Geuze

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The answer lies in the name of the tax.

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#7 30-06-2016 10:46PM

Lockedout2

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Imagine the uproar if you had to pay tax on the proceeds!!!

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