Capital Gains Tax Calculation Query

D

Dodger30

Registered User
Messages
14
Hi,

I’m considering selling a rental property that I bought in 2000 for €136k.
I expect to sell it for €250k and my query is how do I calculate how much CGT I’ll have to pay on the sale.

Thanks
 
Dodger30 said:
Hi,

I’m considering selling a rental property that I bought in 2000 for €136k.
I expect to sell it for €250k and my query is how do I calculate how much CGT I’ll have to pay on the sale.

Thanks
Click to expand...
It depends on whether you ever lived there, what expenses you incurred buying, selling, or enhancing it, and the indexation rate from 2000 to 2003.
 
The maximum taxable gain is € 250,000 - € 136.000 = € 114,000 and taxed at 33% gives € 37,620

As Gordon mentioned - there are various other expenses, etc that come into the calculation and that might reduce the taxable gain
 
Gordon Gekko said:
It depends on whether you ever lived there, what expenses you incurred buying, selling, or enhancing it, and the indexation rate from 2000 to 2003.
Click to expand...
Thanks,

I lived in it myself from 2000 to 2003. I did spend some money on insulation and new windows but as it was so long ago, I have no receipts for these expenses on file.
 
Dodger30 said:
Thanks,

I lived in it myself from 2000 to 2003. I did spend some money on insulation and new windows but as it was so long ago, I have no receipts for these expenses on file.
Click to expand...
You shouldn't necessarily need receipts for historic expenditure.

Seriously consider getting professional advice on this
 
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