Capital gains tax for property held for more than 10 years

I

Irish Summer

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Hello all.
Apologies if this has been addressed elsehwhere, I couldn't find any information.

Does anyone know if there are any exemptions for capital gains for assets (property) that has been held for a several years? I see that there was some exemptions for property purchased between 2011 and 2014 - but what if you bought and held a property from say 2005 to now?

Is there any exemption? Or is it CGT at the 33% rate?

Any responses would be appreciated.

Thanks.
 
33% applies to all periods except the special exemption between 2011 and 2014.

If you bought it before 2004 you can index up the cost by inflation between the time of purchase and 2004

For example, if it costs €1,000 in 1974/75, you can index up the cost to €7,528.

If it cost €1,000 in 1994/95, you can index up the cost to €1,309

Brendan
 
I have a question in relation to the indexing if I may.
When is the relevant date from which to apply the indexation.
I bought an old house which was in ruin and secured a substantial mortgage to renovate it which was done over a couple of years.
For the indexation is the applicable date the date when the property was transferred to me and I paid the Stamp Duty OR when the renovations
were complete and the house let??
 
What would happen in this is you index both at the relevant rates
For example you bought the house in 1980 for £1,000
You did the renovations in 1984 and cost £20,000

You index the £1,000 by the 1980 rate &
the 20,000 by the 1984 rate
then turn the answers in the Euro amount and that will be your base cost
 
Thanks for your response. Capital gains tax at 33% is punitive, even in this country. You take the risk and all the hassle that goes with it and the taxman swoops in and takes a third, for nothing.

At some point in the future, the year from which indexation applies will likely be extended to later than 2004.
 
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