Full relief
A gain on the disposal by an individual of a dwelling-house (including grounds of up to one acre) is exempt in certain
circumstances. The exemption is available if, throughout the individual’s period of ownership, the house had been
occupied by the individual as his/her only or main residence or, under certain circumstances, as the sole residence of
a dependent relative. In the case of a married couple living together only one house can qualify as the only or main
residence of both spouses. This exemption is not affected by the granting of relief under the rent-a-room scheme
(Section 216A TCA 1997). Please note the conditions below where partial relief may apply.
When the private residence comprises development land and the consideration exceeds €19,050, the private residence relief is restricted. This includes the disposal of a garden or part of a garden of a principal private residence as development land, e.g. if sold as a site, or for access, right of way etc. No restriction applies if theconsideration (or open market value, if it is transferred in a non arm’s length transaction e.g. gift ) does not exceed €19,050.
So if you recieve over €19,050 is CGT is due on the full amount??