Capital Gains tax on sale of rental apartment

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Editiono

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hi, I need some tax wizards out there to help me. I bought an apartment in 2000 for 189k Irish pints, lived in it for 6 years and then rented out for last 11. Also remortaged in in 2006 not sure if that matters. It has been valued at 265k euro....what cgt am I likely to pay?
 
€240k x 1.144 multiplier = €275k

If the net proceeds after the expenses of selling are less than €275k, you will have no Capital Gain and so no CGT to pay.

If it is above €275k - there will be some CGT to pay.

If it's below €275k, you may will have a CGT loss which you could use at any time in the future against capital gains on other assets.

Brendan
 
Brendan Burgess said:
€240k x 1.144 multiplier = €275k

If the net proceeds after the expenses of selling are less than €275k, you will have no Capital Gain and so no CGT to pay.

If it is above €275k - there will be some CGT to pay.

If it's below €275k, you may will have a CGT loss which you could use at any time in the future against capital gains on other assets.

Brendan
Click to expand...

Any loss will be diluted by the period when the property was the OP’s home though...the opposite of PPR Relief basically.

7/17 of any loss being disallowed in broad terms.
 
Brendan Burgess said:
€240k x 1.144 multiplier = €275k

If the net proceeds after the expenses of selling are less than €275k, you will have no Capital Gain and so no CGT to pay.

If it is above €275k - there will be some CGT to pay.

If it's below €275k, you may will have a CGT loss which you could use at any time in the future against capital gains on other assets.

Brendan
Click to expand...
@BrendanBurgess could I use the potential loss against shares ?
Gordon Gekko said:
Any loss will be diluted by the period when the property was the OP’s home though...the opposite of PPR Relief basically.

7/17 of any loss being disallowed in broad terms.
Click to expand...
@GordonGekko does this mean that any potential loss , that 10/17 of the potential loss is not applicable?
 
Hi, I also would like to enquire about liability, bought house 1990 for 45,000 lived in until 2008 rented since. what CGT due? what best course of action? does a family member occupying avoid CGT? any help appreciated.
 
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