Health Levy on Rental Income

H

horse

Registered User
Messages
92
Hi Folks,
On completion of my tax returns for 2005, rental income i had was offset against a section 23 property. When I got my "amended assessment" from the revenue they charged me a 2% health levy on the rental income less expenses.
As I'm showing a loss due to Section 23, I can't understand why I pay a health levy on a loss. - Anyone come across this?
Regards,
Horse.
 
As far as I know the sec 23 allowance (carried fwd as a loss) does not exempt you from the levy. The allowance is can only be set against income tax due from prodits form rental income.
 
You must log in or register to reply here.
Back
Top