capital gains question

[pink2006]

I have a rented property which i purchased for €284000 last year and the value of it is now €350,000 if i sell this how much capital gains would i have to pay we paid €14500 stamp duty on this so i think this is deducted is it.

Also a family member is living in this house and his currently renting and is paying €1000 a month rent they were thinking of buying into the property so they would have a half share does anyone know what are the implications of this or how does this work? only a idea at the moment if we dont sell?

 

[CCOVICH]

Your gain would be worked out as follows:

Sale proceeds

Less Purchase price and allowable costs

Gain

Less annual exemption of €1,270

Taxable gain

Tax due is at 20%

See the [broken link removed] for details of 'allowable costs'-seek professional tax advice if you are not sure.

As to the second part of the question, take legal advice.