Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Major discounts: Owner occupancy tax designation

Options
  • 23-03-2009 12:13am
    #1
    Klingon Hamlet
    Registered Users Posts: 2,738 ✭✭✭


    Just read a thing about Tallaght Cross where a €229k apartment would, minus interest relief and the owner occupancy tax discount, could cost only €500pm (assuming higher marginal rate of tax)

    Does anyone know a website that specifically dtails the particulars of this discount? I know you get 10 years max out of it.

    I'd also like to know if there's any websites listing residential properties with this dscount included. As far as I know only specified places have this.

    Seems like a killer deal to me.

    Thanks.


Comments

  • Options
    #2
    Klingon Hamlet
    Registered Users Posts: 2,738 ✭✭✭Klingon Hamlet


    Anyone...?


  • Options
    #3
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    What is owner occupancy tax discount?

    I'm sure you could get the apartment for 500pm, IO, 40 year terms, initial discount rates etc.
    But you should be looking into how best to finance a purchase giving the best rate and quickest payment, you should not be looking at billboards and looking for which one can "spin" the figures to give the lowest rate they can advertise.


  • Options
    #4
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    I assume the OP is referring to stamp duty on units below a certain size?

    Re: the higher marginal rates of tax- the current proposals are to reduce relief solely to the lower rate- so don't make any assumptions......

    The problem with Tallaght Cross is resale-ability of the units. How likely are you to be able to resell a unit- even at a loss there? When you consider that far more desireable areas- such as Adamstown (shudder) are already at similar prices for 2 bed apartments- you know they are overpriced, and the only reason they will sell is for tax designation purposes.

    Can you avail of Section 42 type reliefs in Tallaght Cross? If so- and if you were really willing to take a punt- get two of these units and knock them into one large 3-4 bedroom unit- which would actually be a reasonable size? Thats about the only worthwhile reason for even considering here.....

    S.


Advertisement