CGT loss on overseas property

Discussion in 'Overseas property investment' started by Overseas123, 24 Dec 2018.

  1. Overseas123

    Overseas123 Registered User

    Posts:
    5
    Hi

    I have a property in the UAE (DTA exists btw Ireland and the UAE) and if I was to sell it I would make a loss at the moment. I also have property in Ireland that has gained which if I was to sell would be liable for irish CGT.

    Although there is no CGT in the UAE if I was to sell the two apartment could I use the loss in the UAE to reduce the tax in Ireland?

    I am an Irish nontax resident (would it help if the sales were made after returning to ireland and becoming an irish tax resident?) if I was to sell the foreign property first for how long can I bring the loss forward? Is there any detailed info on the internet on this?

    Thanks for all the help

    Eoghan
     
  2. RedOnion

    RedOnion Frequent Poster

    Posts:
    2,088
    You need to be resident (or ordinarily resident) in Ireland when you dispose of the foreign property to be able to use the loss here.

    Although there is no CGT in the UAE, if you made a gain, and were resident, or ordinarily resident, in Ireland you would have to pay CGT in Ireland.