Search results

Be careful here. As far as I recall, the tax treaty between Ireland and France was signed back in the late 1960's. Capital Gains Tax was introduced in Ireland in the mid 1970's. Therefore, the tax treaty might not cover Capital Gains Tax in Ireland and you might not be allowed a credit in...

Resurrecting an old thread here, but thought it worthwhile. As far as I'm aware, the stamp duty legislation does not set an upper limit on the amount of rent you can receive provided you continue to occupy the house as your main residence while renting a room or rooms out. Obviously the...

@mandelbrot: A director is considered "properietary" and denied the PAYE credit if he owns 15% or more of the shares in the company. At that level of shareholding, he could still be Class A PRSI and treated as an employee for those purposes. Under company law, he would have little power in...

Not quite, rayn. Your foreign deposit interest is taxed at DIRT rates only if you pay that tax to Revenue by the 31st October in the following year (presumably accompanied by an income tax return to declare it) So, if you earn €1,000 in interest on your Italian deposit account this year, you...

Over 65's are not exempt from DIRT but it is refundable if covered by their tax credits. That's not the case for under 65's.

I looked at this a few years ago when a friend of mine with a Sky box hooked it up to a projector and watched TV projected against a white wall. He wondered if he needed a licence for this set up as he was not using a TV. As far as I remember, the legislation defines "TV" as any apparatus or...

Not quite, elgran. "Rural Renewal" is an umbrella term to cover a number of different property tax reliefs within certain designated areas, all with separate rules. This would include capital allowance schemes on commercial properties (where there is a possibility of setting some relief off...

MrMan - You should really have prefaced that stamp duty warning with a statement of your assumption that he had declared it as his PPR for stamp duty purposes - easy to see where the confusion arises from without that important piece of context

Deductible capital expense in the same way as F & F , but it's actually 12.5% per annum for 8 years (since 2002!)

Just as a matter of interest, what do you think is a "reasonable" price for the apt.? If this is determined by the mortgage you still have, then fair enough. If you can cover the outstanding balance of the mortgage by selling it, this would seem to be the least painful option. Of course...

Re: Can I walk away from Interest Only Investment? Sorry - i should clarify: if you remain registered for VAT before selling, then VAT is indeed payable on the entire selling price at 13.5%. If you deregister from VAT before selling, then there is no VAT on the sale itself. However, before...

Re: Can I walk away from Interest Only Investment? If you're thinking about selling one, bear in mind that you may have to charge VAT, unless you de-register from VAT before the sale. If you de-register from VAT before selling, then you are likely to have to give Revenue a balancing payment of...

If you have the same tenant since the beginning, register that tenancy now and pay your late registration fee of €140. You will technically have complied with the registration requirements and should therefore be entitled to the tax deduction for the mortgage interest. If the tenant has left...

Too many people try to determine whether a property is a "bargain" by reference to (a) the percentage below asking price it sells for or (b) the percentage drop in price since the peak of the bubble. Because the peak price was irrational and the current asking price could be irrational, these...

No need to pay estate agent commissions, so!

Not sure if it makes a difference either way. If you make a qualifying disclosure, then the penalty is likely to be 10% (unprompted disclosure in the "deliberate default" category) If you file your returns now, they'll be late and a 10% surcharge will apply to the tax due. So, either way...

There seems to be an increasingly popoular attitude that says all first offers on a house should be "asking price minus x%". The problem with such an attitude is that it ignores how accurately the asking price reflected the current market value in the first place. If someone is selling a house...

Thanks LDF - I wasn't aware of that.

Am I being too cynical in thinking that BOI are not being fully honest here? The concept of a bank pulling a product range, even temporarily, because of too much business in the current environment strikes me as somewhat strange. Surely they should be grabbing all the business they can get...

Not too sure about what Slim said about the portion of the expenses that are deductible. As far as I know, expenses incurred before the first letting of a property are not allowed as a deduction from your rental profit ... although expenses between tenancies are allowed