section 23 relief

[limericklady]

Quick question, are there any implications, tax or otherwise, in buying a section 23 designated apartment to live in as an owner-occupier for a ftb?

Thanks!

 

[DrMoriarty]

Welcome to AAM, limericklady. This earlier thread may be of interest, although it doesn't directly answer your question about an owner-occupier purchase. See also this [broken link removed] (.pdf format)

 

[CCOVICH]

The first few paragraphs of the Revenue Guide spell out the owner occupier implications-you cannot avail of S.23 relief if you occupy the apartment as far as I can see.

It's also worth pointing out that the benefit of S.23 relief is generally perceived to be priced into buildings designated as such, i.e. if it wasn't a S.23 building it would cost less to buy.

 

[nt00deep]

Owner occupier relief is available on properties that would otherwise qualify for s23 rented residential relief.

From the revenue leaflet

It should be noted that it is the first use of the property following construction, conversion or refurbishment that determines the type of relief that will apply. If the property is first used by an individual as his or her sole or main residence, owneroccupier relief applies. If the property is first let by an individual under a qualifying lease, section 23 type relief applies. It is not possible for both types of relief to apply to the same property at different times.

So it can apply (although maybe not strictly called s23 relief) but restrictions may apply.

reading leaflet further myself as I speak.​