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What fees are due when selling a property?

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  • 30-01-2018 9:36pm
    #1
    98-00
    Registered Users Posts: 186 ✭✭


    What fees are due when selling a property?

    I mean to Revenue, after the legal and estate agent fees?

    Is any money gained from the original cost treated as capital gains tax?


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    #2
    Samuel T. Cogley
    Registered Users Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    CGT is not payable on your principal private residence and only on the profit (if any) otherwise.


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    #3
    98-00
    Registered Users Posts: 186 ✭✭98-00


    So if I sell my home, where I have being living, I don't owe anything to the state. But if I sell a second property I own, I owe CGT at 33% on anything above the initial investment, correct?


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    #4
    Samuel T. Cogley
    Registered Users Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    98-00 wrote: »
    So if I sell my home, where I have being living, I don't owe anything to the state. But if I sell a second property I own, I owe CGT at 33% on anything above the initial investment, correct?

    Correct, unless it was bought during the CGT exemption period and sell it when that matures (soon), which ended about 4 years ago. Buggered if I can remember the exact dates but you can google it.


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    #5
    Peregrinus
    Registered Users Posts: 26,511 ✭✭✭✭Peregrinus


    98-00 wrote: »
    So if I sell my home, where I have being living, I don't owe anything to the state. But if I sell a second property I own, I owe CGT at 33% on anything above the initial investment, correct?
    . . . Anything over (the initial investment + any subsequent investment, e.g. if you built an extension, bought a bit more land to add to the garden, whatever + costs and expenses of the acquisition and the disposal).


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