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Capital Allowances - Set off against other income

  • 22-05-2009 10:51am
    #1
    Past30Now
    Registered Users, Registered Users 2 Posts: 380 ✭✭


    A theory question

    Husband and wife own an industrial building which qualifies for capital allowances. Both have significant income elsewhere, but do not have enough rental income to offset the CA's available.

    The €31,750 offset against total income restriction. Can both spouses use this i.e. €31,750 * 2?


    Regards,

    Past30


Comments

  • #2
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    Industrial building capital allowance can be off set against all types of income with no cap.

    Excess rental capital allowances are offset against Case V income and then the offset is capped.

    Think you might be confusing the two.

    Rental computations for spouses are done separately so if both have an interest that gives allowances then the cap is indeed separate,


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