29th August 2022

IPOA and the IPAV (Institute of Professional Auctioneers and Valuers) have been lobbying jointly for the benefit of members.  Our joint Pre-Budget Submission was launched on Tuesday last.  A decision was taken to limit the number of items requested to attempt to achieve a meaningful change to the tax treatment of the sector.

 

Our proposals are as follows:-

 

Taxation

• The introduction of a new 25% rate of tax (inclusive of USC and PRSI) on profit derived from residential rental income
• The introduction of roll-over relief in relation to Capital Gains Tax on the sale of all assets where the proceeds are reinvested in residential property within twelve months
• A reduction in Capital Acquisitions Tax on the inheritance of residential investment properties

 

Pension Provision

• Rental income to be treated as relevant income for pension purposes
• Capital loan repayments should be available for pension relief
• The rescinding of the IORP II pension regulations limiting investment by occupational or company schemes to 50% of fund assets

 

Rent Pressure Zones

• On re-renting their property when a tenant leaves, landlords should be allowed to charge market rent on that property.

 

To read the Pre-Budget Submission click here

 

We are asking you to contact your local representative and lobby them for change.  We have a short window of opportunity, help us to help you, email, or phone your public representatives today.