CGT calculations question

hastie · Apprentice Joined: 07 Jun 2007 Posts: 8

Hi there. My name is Gregory and I was wondering if you could give me the answer to my CGT calculations question. The thing is that I would like to sell my apartment and I would like to know more about CGT. How to calculate my CGT obligation? Thank you in advance for your posts. Bye!

arch · Apprentice Joined: 20 May 2006 Posts: 8

Hello Gregory. If the apartment that you want to sell is not your PPR, then you have to pay tax on the capital gain that you get. Capital gain is the difference between the price that you get when selling and what you’ve paid for it when you bought it. On that difference you have to apply the appropriate rate. I don’t know how much is it now, but from April it will be 18% in any case. You also have to report it on your tax assessment form. That is all I can tell you. I hope that you will manage to get a good price for your apartment. Bye!