Proposal for landlord tax break in budget

It's not wums because they are against your view. People are raising points as to why landlords should not get a tax break. They should however be given greater autonomy over their property

People who own more than one property DO NOT need to be given additional tax breaks by the government imo. I have been saying that all along , grand my post was phrased poorly. But we are talking in the context of landlords tax breaks ie more money. But of course you took it out of context of the actual thread title.

Why do you feel the need to repeat the same thing about 150 times over?

We know you think landlords shouldn't get tax breaks. You've never actually put forward a cogent argument as to why you think this, though. Some of us think it might be a bit of an incentive to landlords to stay in the market, which is what is currently most urgently needed. Personally I don't think it'd make a jot of difference, it wouldn't have changed my mind anyway.

Posting the same thing over and over and over again is just spamming.

I agree, won't make a difference at this stage, it's too late as investors have lost confidence.

Also, don't you know that wumming an spamming are now considered reasonable debate? Keep up 😉

Grand and it's clarified.

Yes but there are annual requirements re reporting and costs associated, so it's not worth it for your average sole trader/ self employed. The main reason one might do this in this situation is to limit liability. But no sole trader/ self employed should be exposing themselves to excessive liability.

Likewise for your typical small landlord with a single property let out, they just need to accept that they pay tax at marginal rate on this income.

There was a post on another thread a few weeks ago where the poster explained very clearly what the tax differences are between letting a rental property directly and setting up a limited company to manage the rental. If I can find it i'll post a link.

IIRC the post noted that there was no tax benefit to single M&P landlords in going the limited company route.

I can see why the government is giving small landlords a tax break but I would question whether this is the best use of taxpayers money.

To solve the current crisis what is needed is more residential units built. While giving landlords more money may help a little indirectly in generating more units, it will do so in a very untargetted manner. More profit for the landlord means a higher value on rental properties and properties in general. A higher value on properties means more incentive for builders to build houses and apartments. This is true but it is probably not a very efficient way of getting more gaffs built and has the downside of making things harder for the FTB to get on the ladder.

Instead, money should be directly aimed at building new units. Streamline planning permission (I think one TD in the debate was saying it takes longer to get planning permission than it does to build the thing). Streamline and incentivise provision of infrastructure needed to build. Increase the number of social homes built. Attract international investment in new builds to rent and to sell. Provide tax incentives and structures Irish people to invest in new builds.

These are just a few ideas and would actually bring prices down for both renters and those trying to get on the ladder.

Yes I think so - regulation and the sense of lack of control seems to be what p*sses off most 'accidental' landlords. In truth though, whilst it'll always be understandable that people will have a property here or there that they don't want to sell and wish to let, they just need to pay tax on this income like everyone else. If they're into letting in a bigger way, then they need to treat it as a business and the work associated with that.

So why not let them just sell up and leave the sector. You either want them or you dont.

The rate of corporation tax for rental income is 25%, not 12.5%

Exactly. no landlord gives a sh!t about a tax break that we all now will not really be a tax break. There will be lots of forms and red tape and conditions with it. No landlord even wants it. They just want to be allowed to get their property back now and sell up at a fair market price.

This whole tax smoke screen should be just taken off the table. Everyone knows that even if it was zero tax that 90% of landlords still want out. Tax is not the rental stock killer. Its constantly changing legislation and an unfair playing field.

Why should it be taken off the table?

Surely something that might help to maintain supply is at least worthy of discussion.

It's a bit of a stretch to claim no landlord wants a tax free income.

Where did you get the 90% of landlords want out figure?

They can of course sell up! Jaysis!