CGT exceptions on property sale

ClubMan said:
Because an expert in a particular domain, offering paid services in that domain, might be expected to give an informed opinion on a complex question?
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An honest professional will freely admit that they don't know the answer to a particular question if that is indeed the case.

If their honesty disappoints, so be it.

The tax code is littered with provisions that often necessitate specialist study by a suitably knowledgeable specialist in order to gauge their applicability or otherwise in a given situation.
 
I've seen in a few posts that when selling a house that was a PPR for some period of the time, that the CGT is not applied on the PPR period + 12 months.....

However when I looked that this calculator it does not seem to add on the '12 months' to time as PPR when it does the CGT calculation

Capital Gains (CGT) Tax Calculator Ireland - Auctioneera

If you sell a property, that is not your primary residence, for more than you paid for it, you will have a capital gain which is taxable.
www.auctioneera.ie www.auctioneera.ie

Can anyone confirm if the PPR period should have the 12 months added in the calculation or if the website is doing it correctly ?
 
Jordan Belfort said:
Can anyone confirm if the PPR period should have the 12 months added in the calculation or if the website is doing it correctly ?
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Principal Private Residence (PPR) Relief

This page outlines Principal Private Residence (PPR) Relief
www.revenue.ie www.revenue.ie
Note

The last 12 months of ownership of a PPR is considered to be included in your period of occupation.

This allows for the possibility that you have moved into your new home, but have not sold your previous home.
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Carla owned the house for 14 years. She can claim exemption for the period during which it was her PPR (10 years) and the last 12 months of ownership.
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Did any anyone get a definitive answer on this??

Its looks like there is another way to look at this.
Calculating the gain BY applying PPR relief to provide an amended gain,
Then applying S604 A on this amended gain, the balance thereafter (after the deduction of €1,270) to be charged to CGT.
 
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