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Rental Income? Cut your Tax Bill!
by Kieran Kennelly

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.
  • The investment is in an extremely well established institution in the medical sector.
  • Good 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.

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