Sell investment property and buy shares

[Bronte]

House was bought for 265 so I am estimating CGT as 33% of (525-265-10) so around 80k, adding on another 10k to cover estate agent fees and legals costs

Do you not have any indexation? Or capital expenditure?

 

[Brendan Burgess]

Apart from the tax nuances in ireland (if held outside a tax wrapper), these are great products IMO

That is like saying "apart from the fact that they are worthless, Bitcoin is a great investment".

The tax is critical in this situation and he should not buy a product where any losses cannot be used against gains elsewhere.

 

[Cameo]

Do you not have any indexation? Or capital expenditure?

Property was bought in 2016 so no indexation as i understand it.

I have some very limited capital expenditure, need to dig out receipts but definitely fitted a boiler and did some minor upgrade to the kitchen

 

[Cameo]

That is like saying "apart from the fact that they are worthless, Bitcoin is a great investment".

The tax is critical in this situation and he should not buy a product where any losses cannot be used against gains elsewhere.

Not sure I'd put it as starkely as that but i know what you mean.

 

[Bronte]

Property was bought in 2016 so no indexation as i understand it.

I have some very limited capital expenditure, need to dig out receipts but definitely fitted a boiler and did some minor upgrade to the kitchen

That's a pity. But you have a nice gain all the same. You only need to keep receipts for 6 years. (though I recommend forever), so don't sweat it if you can't find them, as long as you use a reasonable amount it should be fine. You can also deduct initial costs, solicitor etc. And costs of sale.

You obviously can't deduct the boiler and kitchen costs if you already used them against rental income. For me as a landlord a boiler is rental tax, same as minor kitchen upgrades. (even a new kitchen actually)