CGT - property rented less than half the time it was owned.

C

Chupacabra

Registered User
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22
Good morning All
i would be very grateful if anyone could tell me if i am correctly calculating the below CGT as the property was rented only for a partial amount of time.
Irish resident -
Property owned for 217months +27 days (218)
Property fully rented for 102months +27 days (103)
PPR: 115months

Sale Price€ 430,000.00
Purchase Price€ 275,000.00
Gain€ 155,000.00
Chargeable gain is 47.24% of 155000€ 73,222.00
Capital Gain€ 24,163.26
Deduct allowable expenses€ 24,163.26
Solicitor's fees ( purchase+sale)€ 4,178.70
Auctioneer's fees (Sale)€ 2,644.50
deduct personal exemption€ 1,270.00
Taxable gain
Total to pay € 16,070.41


 
Chupacabra said:
Good morning All
i would be very grateful if anyone could tell me if i am correctly calculating the below CGT as the property was rented only for a partial amount of time.
Irish resident -
Property owned for 217months +27 days (218)
Property fully rented for 102months +27 days (103)
PPR: 115months

Sale Price€ 430,000.00
Purchase Price€ 275,000.00
Gain€ 155,000.00
Chargeable gain is 47.24% of 155000€ 73,222.00
Capital Gain€ 24,163.26
Deduct allowable expenses€ 24,163.26
Solicitor's fees ( purchase+sale)€ 4,178.70
Auctioneer's fees (Sale)€ 2,644.50
deduct personal exemption€ 1,270.00
Taxable gain
Total to pay€ 16,070.41
Click to expand...
Multiple errors in that computation, too many to list. If you're going to do this yourself, at the very least you'll have to familiarise yourself with the basic structure of a CGT computation and how CGT is charged. Otherwise, seek professional assistance.
 
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