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Capital Gains Tax (CGT) reliefs

  1. Overview
  2. Indexation Relief
  3. Farm Restructuring Relief
  4. Revised Entrepreneur Relief
  5. Principal Private Residence (PPR) Relief
  6. Property acquired between 7 December 2011 and 31 December 2014
  7. Disposal of a business or farm (Retirement Relief)
  8. Transfer of a site from a parent to a child

Property acquired between 7 December 2011 and 31 December 2014

You might be due relief on CGT if you dispose of property acquired between 7 December 2011 and 31 December 2014. Property means land or buildings.

You may claim the relief in respect of land or buildings in this country or in any European Economic Area (EEA) state.

How do you qualify for the relief?

Any gains made on a property acquired between 7 December 2011 and 31 December 2014 are exempt from CGT. You will get full exemption providing that you:

  • owned the land or building for at least four and up to seven continuous years
  • and
  • sold the property on or after 1 January 2018.

Property owned longer than seven years

You can get partial relief if you have owned the property for more than seven years.

To calculate the partial relief, divide seven by the number of years you have owned the property. This will give you the proportion of the gain that is exempt.

For example, if you owned the land or buildings for ten years, the gain will be reduced by seven-tenths (7/10).

How to claim the relief

You include the relief when you calculate your CGT. You must also include details of the gain when you file your CGT return.

  • Example 1

    Jane bought a house on 1 January 2012 for €250,000.

    If she sells the house on 1 January 2024, she will have owned the house for 12 years. 

    Jane, in January 2024, might sell the house for €280,000 making a gain of €30,000. To calculate her partial relief, Jane will have to divided seven by 12 (number of years of ownership). She would then get relief on seven-twelfths (7/12) of the gain.

    Calculation of Jane's CGT in 2024
    DescriptionCalculationValue

    Sale Price

     

    €280,000

    Deduct allowable expenditure

     

    		  

    Purchase price

     

    €250,000

    Total chargeable gain

     

    €30,000

    Partial relief for property acquired between 7 December 2011 and 31 December 2014

    7/12 x €30,000

    €17,500

    Personal exemption

     

    €1,270

    Taxable gain

     

    €11,230

    CGT due (33% of €11,230)

    €11,230 x 0.33

    €3,705.90

    Jane will have to pay the CGT due by 15 December 2024 and file her return on or before by 31 October 2025.

  • Example 2

    Eoin bought a house on 1 January 2014. He sells the house on 1 June 2018 and makes a gain of €40,000.

    He will get full relief on the gain as he has owned the house for over 4 years. Eoin will not need to pay any CGT on the sale of the house.

    Eoin files a return by 31 October 2019, which includes details of his gain and the relief.

Next: Disposal of a business or farm (Retirement Relief)

Published: 06 October 2023 Print this page

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