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Tax Reliefs Cost

Dáil Éireann Debate, Thursday - 3 July 2014

Thursday, 3 July 2014

Questions (42)

John Browne

Question:

42. Deputy John Browne asked the Minister for Finance the total expenses claimed against tax by private landlords, excluding loan interest payments; if he will break down the list under common headings, such as refurbishment-maintenance, furnishings, insurance, management costs, agents letting fees, wear and tear capital allowances, accounting, advertising or any similar break down; the percentage and or number of landlords who have recorded a net loss and a similar listing of those who recorded a net profit; and if he will make a statement on the matter. [28779/14]

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Written answers

I am advised by the Revenue Commissioners that, excluding allowable interest, approximately €838m rental expenses were claimed for 2012, which is the most recent tax year for which complete data are available.

The available breakdown of this figure is as follows

Expenses

Expenses Repairs

€248m

Expenses "Section 23" type relief

€21m

Expenses Other                                                         

€569m

The figures shown are based on expenses claimed in tax returns. Taxpayers are not required to provide the level of detail in tax returns that is specified by the Deputy in his question.

It should be noted that these amounts may include claims that cannot be absorbed in 2012 because of insufficient profits (these may be carried forward as losses into future years).

I am advised by the Revenue Commissioners that of the approximately 158,000 returns received in respect of 2012 for which rental income was returned, approximately 137,500 (87%) recorded a profit, i.e., chargeable income after expenses but before Capital Allowances and losses that may have been carried forward from a prior year. The remaining 20,500 returns (13%) recorded a loss.

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