cgt

[pos]

query re cgt calculation,
just wanted to check have i got this right,
house has just been sold,

jan 96 family home is left to 6 siblings and canot be sold until youngest reaches 21 in 2005, equally owned by the 6 since then,
at that time 2 already have there own homes and so house is not there ppr,
therefore they are liable to cgt on there portion of the gain since then.
3 have lived there up to date of sale in feb 06 and so no liability to cgt as ppr,
1 bought own home in march 03 so was ppr for 8 years and not for 3
what proportion of the gain is liable to cgt is it as simple as 3/11ths or is it more complicated than that

 

[pos]

sorry if i didn't phrase that very well,
basically just looking to find out what way the calculation is done if property was ppr for 7 years and not for 3 years

lets say the property increased by €100,000 over the 10 years
is it as simple as your capital gain equals 30,000 i.e 3/10ths,
so tax comp would be 30,000-1,270(exemption)
therefore 28,730 @ 20% equals tax payable of 5,746