Will I have to pay CGT

Hi All,

I have recently returned from working abroad for 18monhts and have moved back into my PPR. When I moved I paid back my stamp duty, registered with the PRTB, and have paid the 20% tax required for non resident landlords.

The apartment was rented out for a total of 18months and before I left I had lived in it for 2years.

If I now sell will I have to pay capital gains or now that I am back in it is it considered my PPR again and therefore I am exempt?

Cheers

The following periods for a PPR are exempt from CGT:

1)Last 12 months of ownership
2)Any period of absence through which the individual worked in foreign employment (and you occupy your PPR before and after the period)
3)Any period of absence, not exceeding 4 years, during which the individual was prevented from occupying the residence because of local employment conditions.

It would appear that your period of absence falls under 2 above, and therefore exempt.