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A look at property related measures in Budget 2023

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By Ted Healy of DNG TED HEALY

Budget 2023 was introduced last week against the backdrop of significant economic headwinds, both domestically and internationally including the war in Ukraine, rising inflation, a Cost of Living crisis, and rising interest rates.

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It is in this context that Budget 2023 contains the largest package of spending measures by any Government, designed to ease the financial pressures faced by households at the present
time.

Here we look at some of the property related measures contained in Budget 2023:

The Help To Buy (HTB) Scheme was extended for a further two years until December 31, 2024 in its current format.

RENT TAX CREDIT

This is a new €500 tax credit for private tenants who are not in receipt of other State housing supports. It will apply for 2023 and for subsequent years (until 2025) but may also be claimed (in early 2023) in respect of rent paid in 2022. Married couples and civil partners can claim a double tax credit of €1,000.

PRE-LETTING EXPENSES

There was an increase in the eligible expenditure limit for pre-letting expenses for landlords to €10,000, and the vacancy period for qualifying was reduced from 12 months to six months.

VACANT HOMES TAX

A Vacant Homes Tax (VHT) will be introduced in 2023 and will apply to residential properties which are occupied for less than 30 days in a 12-month period. The measure aims to increase the supply of homes for rent or purchase to meet demand. The tax will apply to properties which are unoccupied for 12 months or more and will be paid by property owners. The tax will be charged at a rate equal to three times the property’s existing base Local Property Tax liability.

EXTENSION OF RESIDENTIAL DEVELOPMENT STAMP DUTY REFUND SCHEME

The date at which projects wishing to avail of this scheme must commence construction is being extended from December 31, 2022 to December 31 2025. In place since 2017, this is a refund scheme whereby a portion of the stamp duty paid on the acquisition of non-residential land is refunded where that land is subsequently developed for residential purposes (subject to certain conditions).

DEFECTIVE CONCRETE PRODUCTS LEVY

A new Defective Concrete Products Levy will be introduced in 2023. The measure aims to go some way to offset the cost to the State of the Defective Concrete Blocks (Mica) Redress Scheme. The levy will be set at a rate of 10% of the cost of the concrete product, ex VAT, and will come into force from April 3, 2023. This measure will add to construction cost inflation at a time when building costs are already high, and ultimately it may lead to a decline in new housing output. Furthermore, the new levy may simply be passed to the buyer in the form of a higher price for the new home.

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Gleneagle Concert Band opens recruitment drive for new members

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The Gleneagle Concert Band is inviting new members of all ages to join the ensemble as it prepares for its new season starting this September.



Open to children, young people, and adults from Killarney and surrounding areas, the band offers specialist instrumental tuition starting from age nine. Beginners can take lessons in clarinet, flute, saxophone, trumpet, trombone, French horn, euphonium, tuba, percussion, and drums before progressing into the main band.

No previous experience is required for adults or children. The band also welcomes adults who already play an instrument or wish to return to music after a break.

“What makes Gleneagle special is that our musicians don’t just rehearse in a room and play the occasional concert,” said Music Development Officer Vincent Condon. “They perform at major events, festivals and community occasions, take part in film productions, travel internationally and, importantly, have fun together as a band. The band is open to everyone. We welcome young people who want to learn an instrument, as well as adults who have previous musical experience and would like to return to playing.”

For information on registration and lessons, contact 087 222 9513 or visit the band’s social media pages.

Busy summer of events


The Gleneagle Concert Band has concluded a busy 12 months featuring public performances, festival appearances, and charity work.

Highlights included the annual summer street concerts in Killarney town, along with performances at Puck Fair, the Rose of Tralee, and the Summer in Killarney Festival. Band members were also involved in the filming of Jimmy, an upcoming Hollywood biographical drama based on actor Jimmy Stewart.

Community fundraising remained a focus over the past year, with the band supporting local causes including the Kerry Stars Special Olympics Sports Club and Recovery Haven Kerry Cancer Support House alongside a sold-out Annual Concert.

Following a tour to Seville in 2025, the band has confirmed its next overseas trip to Bilbao and San Sebastián in northern Spain, scheduled for August 2027.

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New seating unveiled as Spa GAA celebrates

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It has been a busy period at Spa GAA as the club continues to develop its ground facilities while also marking a major milestone in its sporting history.

The club recently completed further ground improvements with the installation of new seating on the clubhouse side of the pitch.

Located over the terrace area directly on the halfway line, the new seating offers an upgraded viewing area for spectators.

Club volunteer John Hannon of JH Fitout Ltd, who also coaches the Under 10 boys team, assisted with the installation work.


Alongside the developments on the pitch, over 100 people gathered for the club’s annual mass, which was celebrated by Club President Fr Tim O’Sullivan and Club Vice President Fr Michael O’Donoghue.


Following the service, Spa GAA held a special presentation to honour the 60th anniversary of the 1966 O’Donoghue Cup winning team.

All surviving members of the historic side attended the gathering, alongside family representatives of deceased players and team mentors.

The evening provided a chance for the club community to come together, reflect on past successes, and share memories of one of the most famous teams in Spa GAA history.

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