The LPT position for Shared ownership housing

Calahonda52 · 03-01-2016 01:41PM #1

from here:
http://www.moneyguideireland.com/local-property-tax-exemptions.html

Shared Ownership : Houses bought under a shared ownership with the local authority were deemed not to be liable for the household charge because local authority homes were exempt. But they will not be exempt from the Local Property Tax. It has been stated in the Dail that purchasers are liable.

Original post amended to reflect position outlined below

Calahonda52 · 04-01-2016 10:48AM

Just to close this off:
its all here, including the deferral options.
http://www.revenue.ie/en/tax/lpt/deferring-payment.html:

Note that the income test includes all SW income except CA

"The income threshold that determines whether a deferral may be claimed for a particular year is based on a person’s estimate of his or her likely gross income. At the liability date for a year, i.e. 1 May 2013 for 2013 and 1 November 2013 for 2014 (and each 1 November after that), a claimant must estimate what his or her likely gross income
will be for the year in which the liability date falls and not for the year in which LPT is payable. This means that eligibility for a deferral in 2013 is based on an estimate at 1 May 2013 of the likely gross income up to the end of 2013 and eligibility for a deferral in 2014 is also based on an estimate at 1 November 2013 of the likely gross income up to the end of 2013. Gross income is all income before any deductions, allowances or reliefs that are allowed to be deducted when calculating a person’s taxable income for income tax purposes. It includes
income that is exempt from income tax and income received from the Department of Social Protection but excludes child benefit.
The standard income thresholds may be increased where a claimant pays mortgage interest. The increase is limited to 80% of the gross interest (i.e. before tax relief at source is given) that is estimated
to be likely to be paid in a particular year. As with gross income, a claimant must estimate at a liability date, i.e. 1 May 2013 for 2013 and 1 November 2013 for 2014 (and each 1 November after that), the amount of mortgage interest that is likely to be paid by the end of the year in which the liability date falls, i.e. by the end of 2013 for both
of the years 2013 and 2014. A property for which deferral is claimed must be the sole or main residence of the claimant – deferral based on Income Thresholds is not available for landlords or second homes."

The LPT position for Shared ownership housing

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