Capital gains tax

G

gerryfahy

Guest
I am undecided about selling my house. Up until now it was my registered home. I was thinking of renting for a few years but I am wondering how that would affect capital gains tax if I decide to sell say in 5 years from now.
 
It will depend on how long you have te house for in total.

Simple example - You sell the house in 5 years time (after 10yrs of full ownership) at a gain of 100K. Only half of the gain is taxable as for half the period of ownership it was your home. So 50K @20%.

It's not that straightforward but that's the bones of what you are asking.
 
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