Primary place of residence taxation

[confused12]

Hi,

I understand that a property that is a ppr is not subject to CGT?

How is this tested?

Eg, I buy a 2 bed property, rent 1 room and live in the other for a year. Then I leave Ireland and rent both rooms. maybe 1 year later I return and am the sole resident in the house.

How would all of this be factored in?

 

[jpd]

You get relief from CGT for all periods in which the property was your PPR - plus the last 12 months of ownership

 

[confused12]

What defines PPR? Living in it a certain no of days per year?

 

[fidelcastro]

If you rent both rooms and move out then its no longer your PPR, can only have one PPR.

 

[confused12]

Yes, I understand that. But what if you live there for 7 months and overseas for 5 months (renting it all for 5 months). Ie how is it tested

 

[fidelcastro]

Yes, I understand that. But what if you live there for 7 months and overseas for 5 months (renting it all for 5 months). Ie how is it tested

You can only have one , so choose wisely is best advice.

 

[roker]

when I sold my house I had to go back about 10 years to prove it was my PPR