Rental Income? Cut your Tax Bill!
We have recently been given details of a tax shelter
that provides capital allowances against rental income over a 7 year
period. A €100,000 capital investment will provide capital allowances
of €58,240 for the first 6 years and €38,827 in year 7 all against
rental income. Therefore if an individual makes €60,000 rental
profit in a year the investment will save him / her an annual income tax
liability of nearly €30,000 per annum.
The investment is attractive for 3 main reasons:
- It can
save someone in receipt of rental income significant levels of income tax,
PRSI and levies over 7 years. Effectively the right investor will
save nearly €200,000 in income tax, PRSI and levies (under current
rates) for a €100,000 investment. This is effectively nearly
doubling their original €100,000 investment.
investment is in an extremely well established institution in the medical sector.
capital allowances schemes are becoming extremely rare.
The scheme will close in the next few weeks and
therefore if you are interested you should contact Noel
Murphy or Kieran Kennelly for further details.