Capital Gains Tax

[pink2006]

We purchased 2nd home in nov 06 with a view to renting it out, circumstances arose and are parents moved in and contributed to the rent, we are now putting the house up for sale and my question is how much capital gains tax will we have to pay. we Purchased house for €284,000 paid €12,084 stamp duty, and the house is valued at €355,000. Also can we cliam some of the stamp duty back (someone had told me this can be done)

cheers

 

[asdfg]

Calc something like this:

Selling Price ........355.
legal & auct fees ....5
........................................350

Purchase Price .......284
Legal exps say ...2
stamp duty ......12
............................14
...................................298
Gain .............................52
less *exemption ................1
Liable to CGT .................51

Tax @ 20%....................10.2

I have rounded the figures
* exemption is 1,270

 

[pink2006]

thanks, just reading under the revenue section that under certain conditions you can be exempt from cgt if a dependent relative lives in this? what classes as a dependent relative just father is sick and wonder if this would have any bearing on the cgt. also in relation to the stamp duty can any of this be clawed back"!!!