NoRegretsCoyote
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I'm not clear on this either.Where does the 235k come from?
Gross of costs there is a loss of €40k and a gain of €55k, for a gain of €15k. I can't see how allowable expenses and the personal exemption would eliminate a gain of €15k.There’ll be no tax payable once costs etc are factored in.
So, ~€15k gain, less purchase and sales expenses and personal allowance.Sorry, I thought it was €340k, it was €320k.
So €160k plus €65k is €225k, not €235k.
Absolutely, perhaps no tax bill at all, or at least negligible.So, ~€15k gain, less purchase and sales expenses and personal allowance.
With partial PPR relief, it’s going to be a very modest tax bill.
This problem all rests of the correct market value in 2016. I'm not a valuer and I have no idea about the correct valuation here but the above rollercoaster valuations pattern is not credible. I'd be seeking expert professional tax advice and a second opinion on the correct valuation in 2016.Bought an apt with civil partner as PPR in 2007 €320,000
.
(2016) Valuation at the time was €130,000 - this was a low ball valuation which I should have challenged
Fast Forward to 2022 , property is worth ~€240,000 & I wish to sell it , as I am out of negative equity
It's not implausible. Take the CSO index for apartments outside Dublin for the months of June in 2007, 2016, and 2022.the above rollercoaster valuations pattern is not credible.
I don't know, maybe I'm wrong but I still have my doubts. For starters, 2016 was 9 years from 2007, not "only a few years".It's not implausible. Take the CSO index for apartments outside Dublin for the months of June in 2007, 2016, and 2022.
There was a fall of 48% followed by a rise of 78%.
Buyer is talking about a decline of 64% and increase of 85%.
It's within reasonable parameters (but only just) if it's something like an apartment in a provincial town far from Dublin. People forget how bananas these prices were in 2007 and how impossible they were to sell only a few years later. Recovery in prices started in Dublin in 2012 but the bottom was later in regional areas in particular for apartments.
I have spent many years down the coal mines of statistical plausibility checking. This is on the edge but not an obvious red flag.I don't know, maybe I'm wrong but I still have my doubts. For starters, 2016 was 9 years from 2007, not "only a few years".
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