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Tax Relief for Owner Occupiers

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  • 06-03-2008 11:31am
    #1
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,218 Mod ✭✭✭✭


    I've applied for my mortgage interest relief and all that is in hand.

    I saw an add in the paper for Owner Occupier Relief valued at €221 a month. I hadnt heard of this before and I was wondeirng can any one tell who can apply for this.

    I own and live in my aparment and I dont rent it out.

    If I can qualify can I back date it?


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    #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Its a Section 23 type relief granted to the owners of certain qualifying houses/apartments, providing they live in them. This document from the Revenue Commissioners explains it in detail. Unfortunately its nothing to do with management charges etc- which landlords are able to write off against rental income before determination of their taxable income, but owner occupiers are expected to absorb from their after tax income. As obviously this can be up to 2 months after tax income in some cases- its quite unfair, and could be argued to be a form of double taxation- as someone living in an area without a managment company gets their services provided by the council without any additional charge, while owner occupiers in new developments end up forking out on the double. I've started a campaign about this with Shane Ross.


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    #3
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,218 Mod ✭✭✭✭godtabh


    smccarrick wrote: »
    Its a Section 23 type relief granted to the owners of certain qualifying houses/apartments, providing they live in them. This document from the Revenue Commissioners explains it in detail. Unfortunately its nothing to do with management charges etc- which landlords are able to write off against rental income before determination of their taxable income, but owner occupiers are expected to absorb from their after tax income. As obviously this can be up to 2 months after tax income in some cases- its quite unfair, and could be argued to be a form of double taxation- as someone living in an area without a managment company gets their services provided by the council without any additional charge, while owner occupiers in new developments end up forking out on the double. I've started a campaign about this with Shane Ross.


    Just checked the add in the paper. Its very misleading the there is section 23 mentioned in it.

    How do you find out if your property is section 23?


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    #4
    Victor
    Registered Users Posts: 78,400 ✭✭✭✭Victor


    kearnsr wrote: »
    How do you find out if your property is section 23?
    Don't worry, the developer / estate agent will be screaming it. :) They tend to be urban renewal areas. There are similar schemes, I think section 50 for student accommodation and others for certain rural areas.

    Note that these property tend to be priced more to account for the relief.


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