No CGT if I buy, rent out and sell in 12 months?

  • Thread starter Unregistered
  • Start date
U

Unregistered

Guest
I may be buying a house soon, renting it out and selling within 12 months. Am I correct in saying that the last 12 months of a home ownership is deemed to be owner occupier regardless if I'm living there or not, and would I theoretically therefore not be liable for any Capital Gains Tax? I have no other property in Ireland.

Thanks
 
No

You would have to move into it for it to become your PPR
Only if it was your PPR can you rent it for upto 12 months and not pay any CGT

This concession is for when people who are trading cannot sell their current home prior to moving into their new home
There is a 12 month grace allowing them to derive rent while trying to sell the property

Revenue do not allow people abuse this concession
With regards to purchasing and reselling within 12 months, do you think you will recoup the stamp duty charged on the purchase in that timescale

[email protected]
 
You must log in or register to reply here.
Back
Top