Its when you own a second property, i.e. not your principal private residence and you sell it. You pay CGT on the profit you make from the sale. There is something about 12 months of that time you own it not being relevant for CGT purposes but maybe someone else could explain that I am not that familiar with it. Check out revenue.ie as well though I find this site isnt the easiest to find things on sometimes to be honest,
Thanks for that. revenue.ie is possibly the worst site ever for
explaining things, one suspects they prefer us all to be stupid about things rather than understand tax!
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