Hi,
I have a question about an investment property that qualifies for section 23 relief under the rural renewal scheme but is actually a holiday home.
The most common example of this is a house on a golf course within an area designated as qualifying for relief under the rural renewal scheme. E.g. Leitrim or Longford
To qualify for relief under this scheme, the property must be rented out for periods greater than 3 months at a time, which is fine for a property in the middle of a village or a town. However, this does not make sense on a remote golf course that will only be used by holiday makers for a weekend or a week.
I know some people are electing to make these properties their PPR thereby availing of owner occupier relief, but this does not make sense in my case as I do not want to be liable for CGT on the family home.
I'm just wondering how other investors with similar type properties are availing of the relief?
I have read the two leaflets from the revenue website which confirm my statements above, but it just doesn't seem to make sense.
[broken link removed]
[broken link removed]
Thanks,
I have a question about an investment property that qualifies for section 23 relief under the rural renewal scheme but is actually a holiday home.
The most common example of this is a house on a golf course within an area designated as qualifying for relief under the rural renewal scheme. E.g. Leitrim or Longford
To qualify for relief under this scheme, the property must be rented out for periods greater than 3 months at a time, which is fine for a property in the middle of a village or a town. However, this does not make sense on a remote golf course that will only be used by holiday makers for a weekend or a week.
I know some people are electing to make these properties their PPR thereby availing of owner occupier relief, but this does not make sense in my case as I do not want to be liable for CGT on the family home.
I'm just wondering how other investors with similar type properties are availing of the relief?
I have read the two leaflets from the revenue website which confirm my statements above, but it just doesn't seem to make sense.
[broken link removed]
[broken link removed]
Thanks,