c_donno2001
Registered User
- Messages
- 14
Hi all,
I bought a house in Ireland while I was living in Australia. I bought in April 2014 for 105k.
The house was rented from June 2014 until March 2016.
I moved home in June 2016, moved in and started to renovate the house. I spent about 70k on renovations of which most of which is not documented because I done the work myself and with a few handy friends.
House is now worth about 275 after renovations.
Im aware I purchased during the 7 year CGT exemption and If I wait until April 2021 I wont be liable for CGT at all.
If I were to sell now what are my CGT Liabilities? Given that the renovations were mostly done by myself and I have no paper trail, is my assumption correct that I am liable for 33% on the 170,000?
When would I be able to get the PPR exemption?
Any help / advice appreciated.
Thanks in advance.
I bought a house in Ireland while I was living in Australia. I bought in April 2014 for 105k.
The house was rented from June 2014 until March 2016.
I moved home in June 2016, moved in and started to renovate the house. I spent about 70k on renovations of which most of which is not documented because I done the work myself and with a few handy friends.
House is now worth about 275 after renovations.
Im aware I purchased during the 7 year CGT exemption and If I wait until April 2021 I wont be liable for CGT at all.
If I were to sell now what are my CGT Liabilities? Given that the renovations were mostly done by myself and I have no paper trail, is my assumption correct that I am liable for 33% on the 170,000?
When would I be able to get the PPR exemption?
Any help / advice appreciated.
Thanks in advance.