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

[Jumpingjacks]

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

 

[ClubMan]

It's all explained here:

How to calculate CGT

This page explains how Capital Gains Tax is calculated

www.revenue.ie

 

[jpd]

Not unless you have capital losses carried forward or losses which can realised in the same year

 

[AAAContributor]

Is there any investment scheme or tax saving scheme to consider ?

Section 604A relief if the property was acquired between 7 Dec 2011 and 31 Dec 2014.

 

[Jumpingjacks]

I bought the house in 1999, So am I goosed ?

 

[Strong John]

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

 

[Dr Strangelove]

Budget day is next Tuesday.

There could be some changes to CGT.

 

[ClubMan]

I bought the house in 1999, So am I goosed ?

Is there any way to offset CGT on rental property sale? Liability will be 75k.

I wouldn't call a c. €150k net capital gain being goosed.

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

FYI on this:

Indexation Relief

This page is an explanation of indexation relief for Capital Gains Tax (CGT)

www.revenue.ie

 

[Protocol]

I bought the house in 1999, So am I goosed ?

If you have made a 225k unearned capital gain, I would say you are incredibly well-off, not "goosed".

 

[ClubMan]

If you have made a 225k unearned capital gain, I would say you are incredibly well-off, not "goosed".

Golden goosed perhaps?