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Property measure in the Finance Bill

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  • 15-02-2013 12:32am
    #1
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭


    The introduction of REITs in the Finance Bill published yesterday will have widespread implications I think. It makes collective investment in property very attractive from a tax perspective. Looks like it is aimed mainly at the international market.

    Could be put in place to ensure property liquidated during the new personal insolvency legislation is mopped up quickly.
    This could spell good news for renters, as professional LLs enter the market, and supply of rental property increases.

    I shall be watching with interest.


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    #2
    blops2013
    Site Banned Posts: 46 ✭blops2013


    StillWaters wrote: »
    The introduction of REITs in the Finance Bill published yesterday will have widespread implications I think. It makes collective investment in property very attractive from a tax perspective. Looks like it is aimed mainly at the international market.

    Could be put in place to ensure property liquidated during the new personal insolvency legislation is mopped up quickly.
    This could spell good news for renters, as professional LLs enter the market, and supply of rental property increases.

    I shall be watching with interest.


    Ill be watching this with interest also as im in 2 minds to buy a few properties in belfast or here in south


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    #3
    flintash
    Registered Users Posts: 353 ✭✭flintash


    Which in turn increase demand for properties and drive house prices up. Will see...


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    #4
    RATM
    Closed Accounts Posts: 3,591 ✭✭✭RATM


    I'm pretty sure the last budget brought in a tax incentive to buy property whereby there would be no capital gains tax if you buy it by the end of this year and hang onto it for 7 years.

    What is interesting about it is that the incentive doesn't just apply to property in Ireland- it is right across the EU. So while the outlook for the Irish property market wouldn't be great for the next 7 years the same isn't necessarily the case in a few European property markets.


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    #5
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    RATM wrote: »
    I'm pretty sure the last budget brought in a tax incentive to buy property whereby there would be no capital gains tax if you buy it by the end of this year and hang onto it for 7 years.
    So how does this work exactly? Is it as simple as you buy in 2013, you wont be liabble for cgt if you sell at any future point?:confused:
    StillWaters wrote:
    The introduction of REITs in the Finance Bill published yesterday will have widespread implications I think.
    I recall this being mentioned on budget day but didn't fully understand it. How exactly does this work?


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