Selling of property - Tax implications

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Guest
Hi,

First of all, a brief description of my current situation. I bought a house 2 years ago in Dublin which has been my primary residence, but I have also been renting out one of the rooms to cover half the mortgage.

In the last couple of weeks I have bought another house with my partner, with him being the first name on the property.

My question is this, if I wanted to sell my first property, bearing in mind that I have been/will still be contributing to the mortgage, what are the tax implications or what penalties will I incur ? Do I have to pay GGT ?

Thanks a lot
 
If your rental income was less than (I think) €6k per annum (check Revenue site for exact figure, you can avail of the rent-a-room scheme which means you have no income tax or CGT impact from your rental.
 
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