Selling two houses and buying one, what tax?

T

The Rebel Ra

Guest
Would someone be able to give me an idea of what taxes/stamp duty i will need to pay from the following information.

New house bought in Oct 2002 ~(firsttime buyers) for €155,000
Bought second house (secondhand) in Dec 2005 and moved into this for €317,500
Rented out original house in April 2006
Looking to purchase new house (New development) €420,000
Will be selling other two houses

What will Stamp duty on new house be?
What capital gains tax will have to be paid on sale of others?
Original house now valued at €317,500
Second house now valued at €390,000

Get out the calculators, any hits on how to reduce the tax would be appriciated also.
 
Would someone be able to give me an idea of what taxes/stamp duty i will need to pay from the following information.

New house bought in Oct 2002 ~(firsttime buyers) for €155,000
Bought second house (secondhand) in Dec 2005 and moved into this for €317,500
Rented out original house in April 2006
Looking to purchase new house (New development) €420,000
Will be selling other two houses

What will Stamp duty on new house be?
What capital gains tax will have to be paid on sale of others?
Original house now valued at €317,500
Second house now valued at €390,000

Get out the calculators, any hits on how to reduce the tax would be appriciated also.
 
Sorry, too late to be getting out the calculator but....

As you rented out your first property before you had owned it for 5 years there will be a stamp duty clawback at investors' rates..3%, plus interest and probably penalties. The sale price less allowable expenses, less the time you lived in it as your PPR, will be liable to a capital gain of 20%.

I assume you're still living in the second property as your PPR. Did you pay stamp duty on this one when you bought it or was it a new build? In any event, there is no CGT liability on the sale of your PPR.

As to the third property, stamp duty is reduced for owner occupiers on new builds. If the property is under 125sq.mts. there is no stamp duty liability. Otherwise stamp duty is calculated on the value of the site excluding vat or, one quarter of the total cost of the property excluding vat, whichever is the greater. Even putting aside the vat element for the moment, one quarter of 420k =105k which is below the threshold of 127k. therefore no stamp duty.
 
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