Is there any way to offset CGT on rental property sale?

J

Jumpingjacks

Registered User
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7
Hi ,
Is there any way to offset CGT on rental property sale? Liability will be 75k.
Is there any investment scheme or tax saving scheme to consider ? or is just a case of writing the check and forgetting about it.
I am a PAYE worker, Family home only other property owned.

Thanks for any info
 
Other than the small indexation on your base cost(s) there's nothing to offset the tax due on the gain

As others have said, if you have any unrealised losses (Eircom shares, BOI/AIB shares etc.) then now is the time to realise them because any losses in 2025 cannot be carried backwards to gains in 2024 as losses can only be utilised in current year or carried forward
 
Jumpingjacks said:
I bought the house in 1999, So am I goosed ?
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Jumpingjacks said:
Is there any way to offset CGT on rental property sale? Liability will be 75k.
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I wouldn't call a c. €150k net capital gain being goosed.
Strong John said:
Other than the small indexation on your base cost(s) there's nothing to offset the tax due on the gain
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FYI on this:

Indexation Relief

This page is an explanation of Indexation Relief for Capital Gains Tax (CGT)
www.revenue.ie
 
Strong John said:
Very unlikely to apply to any gains for 2024, they'll likely be in relation to gains from 01/01/25 (if any changes)
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In the unlikely event of any changes to CGT, they would almost certainly have immediate effect as any changes scheduled for say 3 months time would mess up transactions currently in progress.
 
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