Michael McGrath
Ceist:132. Deputy Michael McGrath asked the Minister for Finance the status of an application by a person (details supplied) for principal private residence relief in respect of the sale of a property. [17954/18]
Amharc ar fhreagraTuesday, 24 April 2018
Ceisteanna (132)
Freagraí scríofa
I am advised by Revenue that Principal Private Residence (PPR) relief applies to a gain on the sale of a property which was occupied by the vendor as his/her main residence.
In regard to the specific case, Revenue has already engaged with the person’s tax agent and advised that a claim for PPR relief should be made on the Capital Gains Tax return form (CG1). Once the return is filed the person’s claim will be reviewed in accordance with the standard rules for self-assessment.
Revenue has assured me that once the return is filed the person’s entitlement to PPR relief will be determined as quickly as possible.