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Student Accommodation

Dáil Éireann Debate, Wednesday - 15 September 2021

Wednesday, 15 September 2021

Questions (281)

Rose Conway-Walsh

Question:

281. Deputy Rose Conway-Walsh asked the Minister for Finance if Uninest student accommodation provides support in the form of tax incentive for the construction of student accommodation at Ardcairn House, Dublin 7; the value of the incentive; and if he will make a statement on the matter. [43549/21]

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Written answers

With regard to the case referred to by the Deputy, Revenue have informed me that they are bound by taxpayer confidentiality in accordance with Section 851A of the TCA 1997 and cannot provide any information on a specific taxpayer.

Accelerated capital allowances for qualifying expenditure incurred on the construction, refurbishment or conversion of student accommodation were provided for by Section 50 of Finance Act 1999.  However, that scheme only applied in respect of qualifying expenditure incurred up to 31 July 2008. Claims in relation to qualifying expenditure incurred before the termination date may continue to arise. The relevant provisions in the Taxes Consolidation Act 1997 are set out in Part 10,Chapter 11, sections 372AK to 372AV.

Full details on the scheme, which is now closed, are available in Revenue’s Tax and Duty Manual Part 10-11-04 which is published on Revenue’s website at www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-10/10-11-04.pdf.

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