Does PPR extend to a house occupied by an elderly parent?

[torblednam]

I saw an interesting question on an online forum recently, about a person who had given a widowed parent the rent-free use of a second property (which they owned with their spouse).

The elderly parent is no longer in the house, having moved into a nursing home, and the querist was wondering about the CGT treatment of that second property, after having been occupied by their parent...

 

[ClubMan]

PPR style CGT relief may be available in the case of a dependent relative in such circumstances. See section 11 here for example. Professional tax advice would probably be needed in a specific real world case.

No 39 of 1997, Section 604, Revenue Note for Guidance

No 39 of 1997, Section 604, Revenue Note for Guidance

www.charteredaccountants.ie

 

[T McGibney]

Absolutely, but check the small print.

It's an important tax exemption that relatively few people are aware of.