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:-
- 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
- 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.