# 200 investment property tax update



## tweety76 (24 Jun 2009)

The legislation on the property tax has now been published and could be enforced in a number of weeks

http://www.rte.ie/business/2009/0624/property.html

Does anyone know how the local authorities intend on enforcing this?? 

Am I wrong to think that they don't have a list of investment properties in the county?? Are they relying on TRS and related info for enforcement of the 200?


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## PaulHoughton (25 Jun 2009)

It is to be collected by self assessment. There are late fees and penalties and unpaid amounts will be charged against the property for up to 12 years. Revenue, ESB and PRTB are required by the bill to share data with local authorities when requested. I would imagine the first request would be for the stamp duty office to provide a list of property transactions relating to investment property, then a list of PRTB members and a list of ESB account holders that don't match the name of the person who bought the house.

Very hard to avoid.

Here is the bill:
http://www.oireachtas.ie/documents/bills28/bills/2009/4109/b4109s.pdf


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## dockingtrade (25 Jun 2009)

how do you pay this. Just go in to county concil office and pay cash €200


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## helllohello (25 Jun 2009)

do you have to pay it on a house that your daughter is living in? she pays no rent.


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## PaulHoughton (25 Jun 2009)

dockingtrade said:


> how do you pay this. Just go in to county concil office and pay cash €200


The local authority will give you a form. You fill it in and give it back to them with the money.



helllohello said:


> do you have to pay it on a house that your daughter is living in? she pays no rent.


Looks to me that you are liable. There is an exemption for a house occupied by a divorced/separated spouse.

200 quid is not a lot of money.


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## callybags (25 Jun 2009)

> 200 quid is not a lot of money.


 
It is if all you have is 150 quid.


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## PaulHoughton (25 Jun 2009)

Yes bad news for those who own two houses but only have 150 quid.


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## helllohello (25 Jun 2009)

€200  is not a lot of money - but I'm oldfashioned and I still like to get something in return for it. 
My problem with this tax is it starting at €200 - what will it be next year and the year after - i can see it as one of those things that is 500 then 1000 - just keeps sneaking up every year.


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## PaulHoughton (25 Jun 2009)

We get 54 billion of public spending in return for the 34 billion in taxes we pay. 

A flat property tax can't go up too high as it applies to all regardless of house size but yes I imagine it's the thin end of the wedge. Also on the horizon: water rates, carbon tax, tax on child benefit and elimination of property tax reliefs.


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## helllohello (26 Jun 2009)

I have just had a quick read of the above bill - Certain buildings are excluded - this inculdes "the subject of a contractual arrangement with a housing authority (under a rental accommodation scheme) or the health service executive," - Am I reading this correctly? If a house is rented under the RAS then no tax is due - could this be right or am i missing something?


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## PaulHoughton (26 Jun 2009)

Looks right to me. Do you rent a house out under the RAS?


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## helllohello (26 Jun 2009)

just 1 little 1. would love to get another few with them if only I could


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## tweety76 (30 Jun 2009)

Thanks for all the feedback. I am registered with the PTRB but it does irk me somewhat that those who aren't may evade it. I wonder how long it will take for the Co Co to come knocking about this( I have heard it will be collected by the Co Co)


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## Lyndan (20 Jul 2009)

Do you think that the property tax will be linked to non payment of stamp duty.  So for people who didnt pay stamp duty and said it was their PPR but then rented it out before their 2/5 years was up?


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## PaulHoughton (20 Jul 2009)

I don't understand your question. 

Are you asking if people who paid residential stamp duty on investment property will be discovered by this new tax and obliged to pay the correct stamp duty?


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## Lyndan (21 Jul 2009)

Yep thats what I was trying to say!!

I hope the government will use this as a way of checking people who have avoided stamp duty


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## MaryBe (21 Jul 2009)

PaulHoughton said:


> 200 quid is not a lot of money.


 
200 quid IS a lot of money if you have several properties with mortgages attached and no tenants!


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## dockingtrade (21 Jul 2009)

when doe sit have to be paid by?
Do you get notice or late notices to pay?


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## mickymoo (27 Jul 2009)

I was just wondering, I bought a house 4 years ago when i met my then to be wife. She already owned a house and had it in her name. I have my house in my name only and she has hers in hers only although we live in hers. All electricitiy bills etc are in our own respective names for our own houses. We got married last year and informed the tax office. So seeing as we have a house in our own names only each are we liable for this tax?
Thanks


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## Maurice (28 Jul 2009)

Hi,

Thanks for sharing the information on property tax.

Many states have passed legislation and introduced various measures to provide some form of property tax relief or the other to its residents. The state provides property tax relief to taxpayers who had their properties destroyed or damaged. This law is applicable to owners of real estate, business equipment, mobile homes, boats, and aircrafts. Most items that are assessed property tax are eligible for the tax relief.

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