News
Lower tax rate will discourage private landlords leaving the market
By Ted Healy of DNG TED HEALY
Property owner groups are pushing for a new tax rate of 25 percent for landlords to discourage them from selling up and leaving the market.
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Currently, landlords are paying over 50 percent tax on their rental income and the Government are looking at the possibility of reducing this in the upcoming Budget.
The Irish Property Owners Association (IPOA) and the Institute of Property Auctioneers and Valuers (IPAV) have called on TDs and senators in the Oireachtas Housing Committee to back a new tax rate of 25 percent.
This will incentivise landlords to stay in the rental market and “support new investment”, according to chairperson of the IPOA Mary Conway.
“The private investor is taxed at a marginal rate of up to 55 percent whilst the private equity fund/REIT pays zero percent tax on rental profit, once they exit the market within a defined period.”
Private non-developer landlords provide 94 percent of rental accommodation in the State with 70 percent of these landlords owning five properties or less.
Inheritance tax also plays a role in encouraging landlords to leave the rental market due to their age.
“75 percent of landlords are above the age of 50 and 48 percent are above the age of 60. This is important to note as taxation issues around inheritance are another contributor to landlords leaving the market.”
Meanwhile, Housing Minister Darragh O'Brien has said he wants to see measures in the Budget to help "good landlords" and keep property owners from quitting the private rental market.
Since 2016, there has been a loss of up to 8,000 landlords, representing around 44,000 tenancies, from the sector.
Mr O'Brien said landlords have been "demonised" and must be kept in the market while the State increases its stock of public housing. He said a record 25,000 social houses will be delivered this year.
The murmurings are that measures will be taken in the upcoming Budget that will help to maintain as many of those private tenancies as possible whilst building up the public housing stock, the mechanism remains to be seen.
News
American choir to perform in St Mary’s Cathedral
Music lovers are in for a rare treat on Monday night when a top US choir visits Killarney. The Colquitt Accapella choir under the direction of Mr. Jimmy L. Jarvis […]
Music lovers are in for a rare treat on Monday night when a top US choir visits Killarney.
The Colquitt Accapella choir under the direction of Mr. Jimmy L. Jarvis Jr is from the city of Moultie in the state of Georgia in the United States of America.
The choir performs multiple times a year and also produces and performs a large musical every year, with the latest production being ‘The Addams Family’ which was a sold out success.
The Colquitt Choir will be performing at St Mary’s Cathedral thanks to support form the KDYS.
More information is available from the KDYS on 066 71 21674 or www.kdys.ie
News
HeartBeat’s cook off – be early!
This month HeartBeat Killarney has come up with a new slant on safe cooking. A free copy of the cook book ‘101 Square Meals – Easy recipes for everyday life’ […]
This month HeartBeat Killarney has come up with a new slant on safe cooking.
A free copy of the cook book ‘101 Square Meals – Easy recipes for everyday life’ will be available to all those who come early to the May meeting on Tuesday night.
This book from Safefood which is supported by the HSE & MABS will come to life on the night as chefs from The International Hotel Killarney have very kindly volunteered to cook some of the recipes in the book for a tasting session during the meeting.
Nutritionist Paula Duggan will be on hand to discuss the nutritional benefits of each recipe prepared for tasting. She can also advise on any tweaks required to meet individual tastes and needs.
There will be four main recipes available to taste during the course of the evening; Meat Loaf, Baked Stuffed Fish, Chicken Fingers and Spanish Tortillas. There is a fifth recipe for tasting on the night but all that Chairperson Billy O’Sullivan will say about it is “It will be available at the end of the night with a cup of tea and we hope it will send everyone home with a smile on their face.”
This is a night that the HeartBeat group has worked long and hard to make happen.
“It came together because of the amazing generosity of Tracy Coyne, Catriona White and the wonderful Kitchen Team at the International.” said Billy. In these times when the price of foods has risen dramatically it is still possible to eat healthily with the guidance from this book. There are lots of tips also on food storage, freezing food, kitchen hygiene and food allergens.
HeartBeat meetings are FREE and all are welcome to come along on Tuesday May 30th at 8pm at the Parish Centre beside The Church of the Resurrection Park Road V93 WN32.
American choir to perform in St Mary’s Cathedral
Music lovers are in for a rare treat on Monday night when a top US choir visits Killarney. The Colquitt...
HeartBeat’s cook off – be early!
This month HeartBeat Killarney has come up with a new slant on safe cooking. A free copy of the cook...
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