Tax Incentives For Landlords – Living City Initiative

IPOA were pleased to welcome Dublin City Council to present further information on this Tax Incentive to our Members on the 16th May

The Living City Initiative (LCI) is a tax incentive scheme that allows owners and investors (Landlords) to claim tax relief for money spent on refurbishment and/ or conversion of residential property either as income tax relief (for owner occupied residential) or capital allowance (for rented residential). Its aim is to encourage people to live in the historic inner-city areas of Dublin City, it also focuses on the regeneration of retail and commercial districts by allowing owners to claim an accelerated capital allowance on money spent on refurbishment and/ or conversion of commercial property

Introduced by the Minister of Finance in May 2015, the scheme was revised and extended to landlords in January 2017 to encourage an increase in the take-up in respect of rented residential property.

It aims to incentivise owners/Investors to carry out the necessary refurbishment and/or conversion works to upgrade existing accommodation or bring derelict/disused properties back into use. Examples include bringing vacant upper floors above a shop into residential/office use or carrying out refurbishment work to your own home.

A property can be a house, apartment, shop or any kind of structure and can include all or part of a property, but it must be located within the designated ‘Special Regeneration Area’ to qualify for the relief under the initiative.  The exact locations are available to view on the Dublin City Council website MAP

There are three types of TAX Relief available and the qualifying periods are as follows;

Type of Relief:                                   Commencement date:          Cessation date:

Owner-Occupier Residential              5th May 2015                       December 2022

Retail/Commercial                             5th May 2015                         December 2022

Rented Residential                            1st January 2017                    December 2022

Only Refurbishment and/or conversion work carried out during the above time periods will qualify for relief.


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