CGT - Changed PPR to NPPR

M

M_Joyce

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House was bought in 2006 for €400,00

In 2012 it was rented out when house prices had bottomed out. Declared it for 2nd homes tax and value at time based on equivalent properties was €150,000

Have just come out of negative equity and believe could now sell it for €280,000

Is this a loss based on the purchase price of €400k or a gain Based on it's changed of use when it was worth €150k?

No other assets or shares etc just a house bought as a PPR android rented out due to negative equity at the bottom of the market

Thanks in advance
 
For CGT purposes, the relevant point is the acquisition cost (€400k) versus the disposal cost (€280k).

So no tax payable.

And a loss restricted because it was your home; the opposite of PPR Relief basically.
 
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