I purchased an apartment in August 2001 for €190,450 with purchase fees of €1,760.
It was my principal residence until December 2010 and has since been rented.
I am strongly considering its sale for an estimated €320,000 and wonder about my CGT liability.
Purchase price €190,450
Fees 1,760
Capital expenditure 10,000
Indexation
PPR - 9 years & 4 months = 112 months
Total time of ownership
by sale date = 18 years
Sale costs estimate 7,000
There was no stamp duty payable as the purchase price was just below the threshold.
I have been making tax returns ever since it has been rented so up to date in that respect.
The capital expenditure I am referring to is the tiling and upgrading of a bathroom, the fitting of a new kitchenette and the laying of wooden floors throughout, all of which were done in 2002. Can I claim an allowance for these?
Can I deduct the fees of the sale which I estimate at about €7,000 from the tax due?
I have good clarity now on what CJT would be liable and will look into the capex, thank you.
I just need to put more thought into whether I am choosing a right time to sell with Brexit looming. I am not in a rush to sell but it is our hope to sell the apartment and our current home to buy a bigger house.