Just a query why should we have to pay CGT (33%) on a house which has been rented out for a short number of years when we have paid income tax on the rental every year to the revenue, is this not a double tax. ???
You paid income tax on the income from your investment, you pay capital taxes on the capital gain you make... is this not consistent with most Western tax systems?
Agree entirely @Finlandia and the poster, bought in 1995, paying over 50% income tax/usc/prsi on any profit all through this time and are always postponing selling due to the prospect of a horrendous CGT bill. Nicer when CGT was 20%.
What's so complicated? You pay tax on income and gains. Income tax on income ... and gains tax on gains. Two different taxes on two different things, not double taxation.