First Time Buyer apt sale and CGT liability

C

CPAMG

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I bought an apartment 7 months ago as a FTB. I now wish to sell the apartment. Am I liable for CGT?

The apartment has been my PPR for this time period.
 
Am I liable for CGT?

No- there is no CGT payable on the disposal of your PPR.

mf
 
Thanks for that! That's great news.

I thought you might needed to have held (lived in/owned) the property for at least a year.
 
No - there is no such one year rule. If the property was your PPR since you bought it then you are exempt from CGT.

One thing that some people get confused about is the 5 year stamp duty clawback which applies where somebody who bought as an owner occupier rents the property out within five years of purchase. Some people get confused and think that this clawback applies even if they sell within the first five years which is not the case.
 
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