IPOA Pre-Budget Submission

The IPOA Pre-Budget Submission has been submitted to the Minister for Finances.  Brief details of our recommendations are outlined below.


Key Recommendations


  • Rental loss incurred as a result of rent forgiveness, or as a result of the additional rent arrears protections provided by the State due to Covid-19, should be allowable as an expense.


  • Treat letting property as a business.  Remove the restriction imposed by section 97 on rental business and treat the rental business in the same manner as any other business.


  • Allow an exemption from Income Tax for Long-Term Leasing Structures to encourage long-term leasing, changing the mindset of property owners.


  • Allow Local Property Tax as a deductible expense.


  • Refurbishment Relief withdrawn in July 2008 should be reinstated with clear guidelines.


  • Pension Provision – rental income should be treated as reckonable income for pension purposes.


  • Building Energy Rating – monies spent on making a rental property more energy efficient should be allowable in the Tax year of expenditure.


  • Accelerated Capital Allowances should be introduced for new capital expenditure to increase the supply of accommodation.


  • Allow Capital Payment as an expense prior to computing rental income.


  • Introduce Double Taxation relief for Letting Agent Fees to help retain landlords in the sector struggling with complex, confusing legislation.


  • Allow Wear and Tear over 4 years to assist cash flow.


  • Allow market rent restoration on the sale of property.



The full Pre-Budget Submission is available here.

Categories: News.