Principal Private Residence Relief (PPR relief)

You will be exempt from CGT if you dispose of a property which you used as a sole or main residence. This exemption also applies to gardens or grounds of up to one acre. You must occupy the residence for the full period of ownership in order to claim Principal Private Residence Relief (PPR) in its entirety.

Some periods of absence qualify as periods of occupation including:

• The last 12 months of ownership of the property, irrespective of whether you actually reside in the property during this period. However, the property must have been used as your PPR at some time during the period of ownership of the property
• Periods of absence (no more than 4 years in total) during which you're required to live elsewhere in Ireland by the conditions of your employment. However, you must occupy the residence as a PPR both before and after the periods of absence.
• Any period of absence throughout which you work abroad as a condition of your employment. However, for this period to qualify as occupation you must occupy the residence as a PPR both before and after the periods of absence.

Note: All periods prior to 6 April 1974 are ignored when calculating the period of ownership.

During a period of absence you can't have another residence that would qualify as a PPR.

Where the period of ownership of a property does not qualify as a period of residence, or deemed residence, the gain on the disposal needs to be apportioned between the exempt and the taxable gain.

Only one residence per individual, or married couple living together, qualifies for PPR relief. An exception to this rule applies where a property is provided, rent free and for no consideration, to a dependent relative, who uses the property as their PPR. Where a property so provided is disposed of and a gain is realised then PPR relief is available to you in addition to the relief available in respect of your own private residence.