Principal Point of Residence & Stamp Duty

[Zutz]

I currently an owner occupier of a property in Dublin and an in the process of building on a site, transfered from my parents (therefore no Stamp Duty) which I intend to live in. If I start to live in my new property does my Dublin proeprty then becomes liable for CGT and stamp duty clawback (provided it is rented)?

Then assuming the Dublin property is liable for CGT and Stamp Duty would I be better selling now avoiding the tax & duty which would potientally exceed any capital apprecation in the property over the next few years.

Cheers

 

[ClubMan]

If I start to live in my new property does my Dublin proeprty then becomes liable for CGT and stamp duty clawback (provided it is rented)?

It only becomes liable for CGT (on part of any eventual resale gain) if you don't dispose of it after 12 months of vacating it as your PPR. If you rent it out within five years of purchase as an owner occupier then the SD clawback applies.

Then assuming the Dublin property is liable for CGT and Stamp Duty would I be better selling now avoiding the tax & duty which would potientally exceed any capital apprecation in the property over the next few years.

Well at least selling your former PPR within 12 months of vacating it means that you can pocket a CGT/SD free gain. I suppose it depends on what you want to do with that money and what alternative plans/investments you might have in mind for it. By the way - PPR = Principal Private Residence.