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Purchase Guide -Capital Gains Tax
Capital Gains Tax: On disposal of the property, capital gains tax will be payable at the rate of 20% on the gain with the first €17,100 being exempt for each person on the Title Deeds. The gains are the difference between the sales proceeds and the original cost of the property.
On top of this allowance, the seller is entitled to a further allowance regarding the transfer fees paid, inflation rate per year and the cost of any permanent additions made to the house (it is recommended to keep receipt of all renovations).
Owners are exempt up to €85,500 in total if they have resided in the property continuously for at least five years prior to the sale of the property.
(Please be aware that the government may change any Taxation figures shown above without due notification)
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SPECIALIST IN LAND ACQUISITION AND DEVELOPMENT
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