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Taxation of Family Caretakers

  • 25-02-2019 8:29pm
    #1
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭


    Spanish Eyes wrote: »
    Yes that is what I thought. Thanks.

    So these empty properties on FD are not insured. OK it is a gamble I suppose.

    If you put a family member in there revenue expect them to pay rent or have a caretaker arrangement even if its part time.

    Mod
    Split from earlier thread. The discussion is family members 'looking after' an empty property.


Comments

  • #2
    Spanish Eyes
    Registered Users, Registered Users 2 Posts: 16,059 ✭✭✭✭Spanish Eyes


    beauf wrote: »
    If you put a family member in there revenue expect them to pay rent or have a caretaker arrangement even if its part time.

    Not sure, but I think if they don't pay rent it is classed as a gift, but then again say there is a couple staying there, they have 6k between them tax free under gift tax rules each year, and it is up to THEM to file tax returns for the difference.

    Another incentive may be to increase the gift tax allowance for a family member renting from a FD recipient?

    There are so many ways, but not a lot of imagination I think!


  • #3
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    i think you are missing the larger picture where they want to tax you to the hilt. Not reduce it.


  • #4
    Spanish Eyes
    Registered Users, Registered Users 2 Posts: 16,059 ✭✭✭✭Spanish Eyes


    beauf wrote: »
    i think you are missing the larger picture where they want to tax you to the hilt. Not reduce it.

    Not sure if that was directed at me, but anyway would need more information about your premise. Thanks!


  • #5
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    You think revenue will be ok with a couple paying 500 a month rent. They will see it as tax avoidance.
    The fair deal will take 80% of income. You wouldn't have enough to pay the tax on the rental income, and nothing to cover anything else.

    In the middle of a housing crisis, they govt has set it up so you its cost less to leave it empty.


  • #6
    Graham
    Moderators, Society & Culture Moderators Posts: 17,643 Mod ✭✭✭✭Graham


    Mod

    Thread split


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  • #7
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    Kinda lost all context, since we were talking about houses being left empty by the fair-deal scheme and its disadvantageous to do anything with them. In context of older people down sizing. Basically there's no incentive. The Govt has done its very best to not offer a carrot but a stick.


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