What is Principle Private Residence “PPR” Relief?
If you sell a property which is your only or main residence or has been at some point during your period of ownership, Principle Private Residence (“PPR”) Relief will be available. This means that if a capital gain arises on the sale, PPR will exempt either all or part of the gain from Capital Gains Tax (“CGT”).
PPR elections for individuals with more than one residence
If you have more than one private residence, you can make an election to nominate one of your residences as your PPR.
This election must be made within two years of the date that you have a new combination of residences; for example, if you already have one residence and you purchase a second pro...
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