Government Considering Tax Breaks for Property Providers

Global Irish Nation

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It was good to wake up today and see a glimmer of hope for the Irish Porperty market with reports indicating some shift in Government thinking towards easing some of the crushing taxes imposed on those who provide property. Presumably both for homes for people to live in or venues for entrprenuers to set up business's in.

We've seen the uttelry predictable but catastrophic effect of the left wing policies enacted upon property providers. Soaring rents, a collapse in availablilty and funadementally, everyone losing. Classic left wing policy outcome.

The real question isn't whether some change will happen or not. Something obviously has to be done. The system has fallen apart as a result of the looney left. The real question is whether the government has the common sense to go far enough. The only elements that should be taxed as is the case in most areas of business which still operate to standard right wing protocol are the profits. Interest repayments and capital repayments are expenses and should automatically be made tax deductable. Then the property market will finally stabilise with availability and sensible rents restored. And meaningfull incenitives to invest for property providers.
 


toughbutfair

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The stick is better than the carrot.

A big land tax on all land within areas that are desireable for property. Half this tax when construction starts (max period of 2 years or however long it takes to build house or flats ) . This forces the supply to go up which forces the price down.

Problem solved !
 

Northsideman

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Let's see what the left wing indos propping up Enda make of this.
 

Global Irish Nation

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The stick is better than the carrot.

A big land tax on all land within areas that are desireable for property. Half this tax when construction starts (max period of 2 years or however long it takes to build house or flats ) . This forces the supply to go up which forces the price down.

Problem solved !
You think slapping big taxes on land makes it more desirable for investors to take risk? When there are nmerous more profitable property opportunities globally let alone non-property opportunities? Bonkers. Absolute bonkers. No matter how often we see the carnage of these so called 'stick's' some people still cling on out of some bizarre ideological superstition.
 

Lúidín

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The government of private landlords is to use our resources to bail out their members and supporters. I am shocked.

'Property providers' is a nice attempt to camouflage the parasitic landlord class but it won't fool those in a 'culturally and economically challenged environment'.
 

sic transit

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The stick is better than the carrot.

A big land tax on all land within areas that are desireable for property. Half this tax when construction starts (max period of 2 years or however long it takes to build house or flats ) . This forces the supply to go up which forces the price down.

Problem solved !
The housing part seem to be on its way to being solved, albeit very very slowly. The apartment component seems less clear. I heard Ron Lyons say a few weeks back that it is impossible for developers to make their money back on apartment building. Someone here suggested that it was because of rework. There may also be red tape and charges around it and solutions require all elements to be addressed.
 

sic transit

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The government of private landlords is to use our resources to bail out their members and supporters. I am shocked.

'Property providers' is a nice attempt to camouflage the parasitic landlord class but it won't fool those in a 'culturally and economically challenged environment'.
Parasitic landlord classes include your neighbours, with a buy to let that barely covers the mortgage in an area they would never live. They are thousands upon thousands of them.
 

Prester Jim

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Left wing policies my boll1x, a left of center policy would see a massive house building project to make up for the failings in the market.
What we have is a govt that is far more worried about private property rights, the rights of banks and builders to hold the rest of us to ransom and manipulate a basic need for life as a means to profiteer than it is about the welfare of the vast majority of its citizens.
The property market is being manipulated by capital and the taxpayers are involuntarily subsidizing this action and we will be the victims of this con from beginning to end.
 

Prester Jim

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You think slapping big taxes on land makes it more desirable for investors to take risk? When there are nmerous more profitable property opportunities globally let alone non-property opportunities? Bonkers. Absolute bonkers. No matter how often we see the carnage of these so called 'stick's' some people still cling on out of some bizarre ideological superstition.
Your free market beliefs are jut as groundless as any superstition. The free market needs regulation and the citizens need protection or the rich will fix the market to suit themselves. A true free market is impossible in a human society.
 

Global Irish Nation

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The government of private landlords is to use our resources to bail out their members and supporters. I am shocked.

'Property providers' is a nice attempt to camouflage the parasitic landlord class but it won't fool those in a 'culturally and economically challenged environment'.
The phrase landlord class is a hackeyed and rankly laughable attempt to link proerty provision with events of the 1800's. Providing property is a product or service just like any other. You need food, electicity, water and shelter to live. People supply and trade in these goods all the time. The left have distorted the poperty market with their auld Oireland penal laws nonsense and we've seen the results. Total chaos. The rich geting rich, the poor getting poorer. Alsways the same with the left. Always.
 

Global Irish Nation

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Your free market beliefs are jut as groundless as any superstition. The free market needs regulation and the citizens need protection or the rich will fix the market to suit themselves. A true free market is impossible in a human society.
You've seen the results. Disaster. Time to get back to something sensible.
 

Sister Mercedes

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I'd like to see a greater move towards professionals running the rental business. Too many 'accidental landlords' who think they can charge 3k a month and not carry out even rudimentary maintenance.
 

an innocent abroad

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How can you call it "Free market" if they are up to their necks in tax incentives?

Where's the "free market" in that?
 

Sister Mercedes

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How can you call it "Free market" if they are up to their necks in tax incentives?

Where's the "free market" in that?
There's nothing free market about property in Ireland. If there was there'd be twice as much product available and you'd buy a large apartment in a central location for 150k.
 

sic transit

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I'd like to see a greater move towards professionals running the rental business. Too many 'accidental landlords' who think they can charge 3k a month and not carry out even rudimentary maintenance.
Lived in a "luxury" apartment block in Dublin in the late 1990s, which was owned by a farmer in Cork. Everything was at least five years old and it hadn't been redecorated since the 80s when they were built, yet every year the rent went up by £50 a month.
 

mr_anderson

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On the demand side, people cannot borrow as much as they want (thankfully), due to the Central Bank lending restrictions.
Hence they cannot pay ever increasing prices.

On the supply side, the government is pushing down the availability of new stock through artificially pushing up the cost of building, with insane levels of VAT & council levies etc.

The government needs to stop forcing up costs, allowing the natural price to fall to levels people can actually afford.

They need to eliminate VAT on new builds for the next 3-5 years.
They could also cap council levies.

The ability of workers to afford a roof over their head, without slipping their neck into a debt noose, would not only help the psychology of the entire country, but would instantly boost our competitiveness.

If people want to buy in D2, D4 or D6 and rack up eye-watering levels of debt, then let them.
But there should be affordable housing estates on the outskirts of the M50, connected through the LUAS or DART.

There should also be no social housing within the M50.
Not only is it stupid from an economic point of view (i.e. too expensive), but no unemployed person should receive rent allowance allowing them to live in an area that displaces the workers who pay for everything. It's daft.
Every unemployed person living within walking distance of town is displacing a worker, thereby forcing them to live further afield and commute daily.
Madness.
 

Sister Mercedes

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Lived in a "luxury" apartment block in Dublin in the late 1990s, which was owned by a farmer in Cork. Everything was at least five years old and it hadn't been redecorated since the 80s when they were built, yet every year the rent went up by £50 a month.
We're still stuck in a mindset in this country that the only people who rent are students or people on social welfare. So any old crap will do and no worries because someone else like the council or Dept of Social Welfare is usually paying the bill.

On the other side of the equation, you can usually tell a rented house in Dublin because the front is a state, curtains are always closed, half a dozen cars on the driveway, grass and footpath, noise at all hours etc. There needs to be better 'neighbourly respect' rules, fines and enforcement.
 

sic transit

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We're still stuck in a mindset in this country that the only people who rent are students or people on social welfare. So any old crap will do and no worries because someone else like the council or Dept of Social Welfare is usually paying the bill.
Yep. At that time I couldn't get a contract for any more than a year, which I doubt has changed. The sector does need regulation so that people do not potentially need to move house every year or so and that landlords cannot just make up numbers.
 


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