Tuesday, 13 May 2014

Questions (180)

Charlie McConalogue

Question:

180. Deputy Charlie McConalogue asked the Minister for Finance if there are plans to include the local property tax as a deductible expense in calculating a landlord's taxable rental income; if not, the reason for same; and if he will make a statement on the matter. [21094/14]

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Written answers (Question to Finance)

The Thornhill Group, the inter-departmental group chaired by Dr Don Thornhill established to consider the structures and modalities of a property tax, recommended that Local Property Tax (LPT) paid by the owner in respect of a rented property should be deductible for income tax or corporation tax purposes, in a similar manner to commercial rates. The Government has agreed in principle to accept this recommendation but has not considered the manner or the timing in which this will happen.