Is CGT payable if property sells for less than purchase price?

Elana10

Registered User
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I bought my PPR in 2006 for €220000. I moved out, let property and rented elsewhere from 2011-2016 (all above board) if I sell my property now is it the case that I will not have to pay capital gains tax if the property is sold for less than what I bought it for?

I bought the property as my PPR and it is the only property that I own Thanks
 
I'll give you a clue, the hint is in the name of the tax.

Did you make a capital gain?

No, you made a capital loss if you sell for less than you paid.

No gain, no CGT.
 
There is no CGT payable, it would be fantastic if everyone were as diligent and concerned about tax payments as you are.
 
And you will be able to use the Capital Loss incurred to reduce any Capital Gains you make in the future. Not the full amount, but around 50% of it based on the dates you have given.
 
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