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Section 23 relief

  • 08-12-2015 1:24am
    #1
    RCSATELLITES
    Registered Users, Registered Users 2 Posts: 646 ✭✭✭


    Hi, looking for some advice with regards to section 23 relief. I have bought a property recently which has section 23 relief available. The owner sold it to me with the 10 year period so I should be able to take advantage of the relief.

    I am just wondering if the relief only lasts for 10 years since the property was bought or does the relief last till it is used up.


Comments

  • #2
    gerrybbadd
    Registered Users, Registered Users 2 Posts: 10,301 ✭✭✭✭gerrybbadd


    RCSATELLITES wrote: »
    Hi, looking for some advice with regards to section 23 relief. I have bought a property recently which has section 23 relief available. The owner sold it to me with the 10 year period so I should be able to take advantage of the relief.

    I am just wondering if the relief only lasts for 10 years since the property was bought or does the relief last till it is used up.

    If the owner has already availed of some of the relief, there will be no relief due to you. Relief is non transferrable


  • #3
    RCSATELLITES
    Registered Users, Registered Users 2 Posts: 646 ✭✭✭RCSATELLITES


    gerrybbadd wrote: »
    If the owner has already availed of some of the relief, there will be no relief due to you. Relief is non transferrable

    That's definitely not the case. If the vendor sells a property within the 10 year period he has to pay revenue the relief back. The second owner cam then get the relief. The relief amount depends on the purchase price.

    You may have seen this as a proposal for 2011 2012 budget, but it did not go ahead.


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