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different property tax models depending on the type of use

  • 06-01-2016 11:52am
    #1
    In the wind
    Registered Users, Registered Users 2 Posts: 251 ✭✭


    Hi Folks,

    We are away from Ireland for 13+ years now & return to Ireland 4/5 times per year & rent a holiday home. We are thinking about buying outright for our own use only. Appreciate thoughts on the this & advice on taxes/costs payable for such a model.

    I'm trying to understand if there are different tax models depending on the type of use.For example:
    -Hoiday Home model.
    -Rental property model (essentially vacant & loss making).
    -Principal residence model (not really applicable as our principal residence is overseas).
    -Other model.

    Appreciate your thoughts.

    Thanks.


Comments

  • #2
    Carawaystick
    Registered Users, Registered Users 2 Posts: 8,779 ✭✭✭Carawaystick


    No difference anymore.
    You pay LPT and TV license if you've a tv there for an hour or a year.


  • #3
    In the wind
    Registered Users, Registered Users 2 Posts: 251 ✭✭In the wind


    Thanks for that Carawaystick.
    Let's say we pursue the rental property model for arguments sake. Can I offset my LPT, insurance and water charges against any losses made due to the property being vacant?


    As an aside:
    This makes a luxury mobile home a real runner for me now in the context of coming home to Ireland 4/5 times a year. I know this is apples and teaspoons however:
    -No planning permission.:)
    -No LPT.:)
    -Mobility :)
    -Lower insurance.:)
    -Water charges?:confused:
    -What other positives? :confused:

    -Not bricks & Mortar, high depriciation?:(
    -Cold in winter?:(
    -Paying site rental.:(
    -Paying site services costs:(
    -Security risk when vacant :(
    -What other negatives? :confused:


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