Help to complete CG1 Form

korpy

Registered User
Messages
49
Hi everyone,

I am looking for some help to transfer the details below to the CG1 form.
Non-domiciled, Irish resident, I have sold a foreign property in Dec 2019 at a loss.
Please see below details:
  • Sell price 6900
  • Purchase price 65000
  • Gain 4000

  • Solicitor Fees 974
  • Enhancement Expenditure 4858
  • Total Expenditure: 5832

  • Personal exemption: 1270

  • 4000 (Gain) - 5832 (Expenditure) - 1270 (Personal exemption) = -3102 (Loss)
  • Loss 3102
Would the details below be the correct way to complete the form?
  • Section 1h, Aggregate Consideration – 69000
  • Section 8, Losses in the year before S. 604A relief – 3102 (would this be correct or I have to calculate the losses before the personal exemption is deducted?)
  • Section 15, Personal Exemption - 1270
  • Section 21, Double Taxation Relief - I did not have to pay foreign tax in respect of the disposal of the property. Do I have to complete this part?
Thanking you in advance for your assistance.
 
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