Wife and I have PPR each - why do we need just one?

J

Jugovic

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Hi all,

I have a very quick question that is really bugging me. I bought a house 7 years ago (my PPR). My gfriend (now wife) has an apartment that she bought 4 years ago (her PPR).

We got married earlier this year. Why, when married, is it assumed that you can only have one PPR? Why automatically is it assumed that you need to declare one of the properties as an investment property, pay the second property tax, show any rental income etc.?

Why can a married couple not still have a PPR separately? Does it state anywhere in the revenue website that when a couple gets married that you can only have one PPR?

Thanks in advance,
Jugovic.
 
A PPR is where you reside so are you residing separately? If so then you both can have a PPR. Me thinks you are residing in the one house so that therefore is your PPR.

See here for the FAQ's on the issue
 
Where do you both live?

It's unlikely that you live in the house and she lives in the apartment.

The apartment doesn't have to be a rental property but it is a second home whether you like it or not
 
Isn't it for Family Law reasons as well?
Your PPR is considered to be the 'family home' and treated differently then. And a couple can only have one 'family home'.

For example when you sell your PPR in order to buy another house, you don't pay tax on the proceeds. (But you can't have another PPR at the same time).
 
It is set out in the legislation (section 604(9) Taxes Consolidation Act, 1997) that a married couple, living together, can only have one PPR.

For CGT purposes, the advantages of marriage (no gains on transfers between spouses) only apply to married couples living together (with some exceptions for transfers in the case of separation or divorce).
 
Isn't it rather obvious why? Your PPR is where you live. If you live together you can only have one PPR. If you live each in one home at all times you can both have a PPR.

Not exactly rocket science.
 
I know of at least three married couples who s jobs mean they are apart 3-4 nights every week. they'd prefer to be together but economic realities mean that's not possible. Reasonable case for 2 PPRs in my opinion
 
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