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tax designated

coolio_64 · 2007-06-06 08:04:25

tax designated what is it when you see houses for sale and they say tax designated. what else exactly does this mean

06-06-2007 8:04am

#1

coolio_64

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Posts: 231

tax designated
what is it when you see houses for sale and they say tax designated. what else exactly does this mean

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Comments

#2 06-06-2007 9:40am

jdivision

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Part of the purchase price can be written off against tax. Depending on the scheme, if you're an owner occupier you might be entitled to write off 50 per cent of the purchase price against income tax over 10 years. In others, if you're an investor you can write off up to 92 per cent of the purchase price (depends on the scheme) against rental income from property in Ireland. You should always investigate whether the tax break can be passed on to another purchaser. In many cases it's not.

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