If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Tax Question

Culchie · 2005-11-24 19:10:56

I have an investment property that I rent out 'down the country'. I am selling my principal home in Dublin, will move into the rental house for a period of time, whilst we build a new house, so for approx 18months. Once we move into the new house, it will be our intention to commence renting out our investment property…

Options

24-11-2005 8:10pm

#1

Culchie

Registered Users Posts: 5,047 ✭✭✭

Join Date: August 2004

Posts: 4748

I have an investment property that I rent out 'down the country'.

I am selling my principal home in Dublin, will move into the rental house for a period of time, whilst we build a new house, so for approx 18months.

Once we move into the new house, it will be our intention to commence renting out our investment property again.

What (if any) are the tax implications of this?

My reading of it is that because I am selling my principal residence, and using the funds to build my new principal residence, then there will be no tax payable on the sale of my house in Dublin.

Do I need to advise the taxman when I move into my investment property for a period of 18 months, that this will be my principal residence for that period of time?

0