To sell or hold rental and living overseas

N

newyork

Registered User
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Hi, Following is my scenario, appreciate views/opinions on what costs I would be up for.

Purchased 3 bed semi in April 1999 for 149,829 Euros (or 118k punts), puchased in partner and myself name.

Received 1st time buyers grant of 3,809 euros (or 3k punts)

Live in house as primary residance until May 2002, when we emirgarted to Australia and basically have not returned since. House is rented, we are registered as non resident for tax pruposes with Revenue and I make a tax return yearly on rent received. House has been rented ever since for approx 1,200 Euros per year.

House now worth approx 380k

Questions and there are a few

If I sell what tax implications for me and importantly roughly how much

What is the standard estate agent fees you could expect to pay

Should I sell now or sit, house tenanted and no issues there.

Help pointers, thoughts, suggestions are all appreciated.

Thanks..
 
Not sure about grant

For the years 1999-2002 it was PPR and 2002-2007 rented that means multiply you capital gains by 3/8 and that section is capital gains tax free 5/8 is charged at (I think) 20% tax.

The rental income should be dealt with as you paid your taxes on it (1,200 a year? Can I rent this place???? Did you mean 12,000)

EA`s are typically 1-1.5%

Its not easy to sell nowadays so if you are renting at 12000 then you`d have to think about it and maybe up the rent?

If your tenant would stay as you show it etc and you dont care how long it takes to sell and you have plans for the money then maybe take a punt?

Anyway Good Luck
 
If you purchase a place a an FTB you dont pay stamp duty as a investor when you rent out within 5 years you then have too pay back the stamp you were supposed to pay.
 
OP says he got FTB grant of IEP 3000. Sounds like there was no stamp duty differential between FTB and non-FTB owner occupiers. Was there even a stamp duty differential between owner occupiers and investors back in 1999?
 
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