Brendan Burgess
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Seamus Coffey looked at this and in most cases where a reason could be discerned it was things like: renovation, bereavement, resident nursing home, house on the market, etc.The tax will apply to residential properties which are occupied for less than 30 days in a twelve month period. There will be a number of exemptions to ensure that owners are not unfairly charged where the property may be vacant for a genuine reason.
What does the second bit mean ?Pre letting expenses regime doubled to €10,000 and reducing period of vacancy from 12 months to 6 months.
What does the second bit mean ?
The section applies to expenditure on a premises which has been vacant for at least twelve months and which is subsequently let as a residential premises between 25 December 2017 (the date of the passing of Finance Act 2017) and 31 December 2024. A ‘vacant premises’ means any premises that is not occupied for the entire twelve months before the ‘specified day’. The ‘specified day’ means the day on or after 25 December 2017 on which a vacant premises is first let as a residential premises following the end of the period during which it was not occupied.
Sound about right!Step 1. Government give 500 euro to everyone to spend on rent.
Step 2. Rents go up by 500 euro.
Step 3......eh Government give 500 euro to everyone to spend on rent.
Step 2. Rents go up by 500 euro.
It's not clear from what has been published so far; the note refers to 'PPR' and I believe there will be a requirement for the tenancy to be registered with RTB, which isn't the case currently for rent a room.Does this apply to tenants that are on a rent a room agreement?
Will that tenant be able to avail of this?
A 2% increase on annual rent almost anywhere in the country would easily be €500?Most rents are controlled so Step 2 won't happen.
Brendan
Interesting question; my guess (and it is only a guess at present) is that if they go down the 'registered with RTB' route, it will be the person (s) named on the tenancy who can claim the credit.Does anyone know if this credit is per household or per taxpayer. Myself and wife are assessed separately for tax. Are we both entitled to claim it?
do you have a link?Does anyone know if this credit is per household or per taxpayer. Myself and wife are assessed separately for tax. Are we both entitled to claim it?
EDIT: Just see it is expected to be on a individual basis except for married couples or people in civil partnerships. I presume that means we are assessed individually, we are both entitled to claim it.
do you have a link?
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