Where did I say that?Better to do nothing so is it? And stick their head in the ground. And hope things change if their own accord.
You have three postings, the one above, a comment re make baldness and another. I don't see what you are suggesting, can you explain to me please?Where did I say that?
I stand by my prediction. The government (and its eventual successor) will do precisely as you describe, and for the reason I stated above.
I'm puzzled why you need to ask. The OP asked, as per the title of this thread: "Any rumours will they tax landlords less than current full tax rate?" I've clearly given my opinion on the likelihood of this happening.You have three postings, the one above, a comment re make baldness and another. I don't see what you are suggesting, can you explain to me please?
if you suspect that any of my comments here or elsewhere are inappropriate, feel free to use the report function, instead of trying to badger me about them.Maybe you are confusing threads with your own suggestions or opinion.
Where did I say that?
I stand by my prediction. The government (and its eventual successor) will do precisely as you describe, and for the reason I stated above.
Correct, viz.sorry, but i thought you disagree with my posting and then here you say the government will do precisely as I've described. I just got lost by what you've said.
Better to do nothing so is it? And stick their head in the ground. And hope things change if their own accord.
I disagree with this.While it is dispiriting to see 50% of the profit going in tax that is not the issue for me or I suspect most landlords.
International comparisons show that the cost of renting in Ireland is very high, the cost of buying housing (and so what a landlord selling can expect) is not as excessive.
No landlord, I suspect is getting out because they can't make a profit.
The issue is regulation and the pitfalls of the RTB. In short it takes a long time to evict a non-paying tenant, and there is a fear that there will be restrictions on the freedom to sell.
For once its not all about money.
2007 | 2022 | |
Income tax | 40% | 40% |
Health levy+income levy (now USC) | 4% | 8% |
PRSI | 0% | 4% |
CGT on gains | 20% | 33% |
LPT on value of property | 0% | 0.1% (approx) |
It should incentivise professional landlords, both big and small, to offer longer term leases. It won't do much for the amateurs who see it as an alternative pension fund, don't want to put the work in, and really shouldn't be landlords in the first place. In the longer term that will make for a more stable market. In the short term it won't do much.Looks like the government is proposing extra tax reliefs for landlords in return for very long leases:
Will that be enough to stem the exodus of landlords from the market?Landlords could be offered Budget tax breaks if they give long leases to tenants
Tenants are in line for a first of its kind tax credit on their monthly rent under measures being considered for the Budget later this month.www.independent.ie
The package being drawn up could also include extra tax reliefs for private landlords subject to strict conditions. One of these is expected to be that they commit to provide their property as a long-term let, meaning a tenant would have fixity of tenure.
When compared with other EU countries, Ireland has very few domestic properties available on five- or 10-year leases.
2007 | 2022 | |
Income tax | 40% | 40% |
Health levy+income levy (now USC) | 4% | 8% |
PRSI | 0% | 4% |
CGT on gains | 20% | 33% |
LPT on value of property | 0% | 0.1% (approx) |
It's charged on net rental income though capital allowances and rental losses brought forward are not deductible.
20072022 Income tax 40% 40% Health levy+income levy (now USC) 4% 8% PRSI 0% 4% CGT on gains 20% 33% LPT on value of property 0% 0.1% (approx)
Does 8% USC not start after 70k approx?
Does the USC apply to gross rent or net rental profits?
Does PRSI apply to gross rent or net rental profits?
What is strange is that only 75% of mortgage interest is counted as a cost so the landlord pays income tax on 25% of that cost.
I stand corrected.The percentage relief for mortgage interest has moved from 75% to 100% I believe:
What expenses are allowed?
This page outlines the expenses you can deduct from your taxable rental incomewww.revenue.ie
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