my company is interested in buying a 3 bed house for 400k and then to rent it out for 800 per month. it has to borrow 200k. So annual rent is 800x12 = 9600 can anyone tell me what tax is payable on this and is there any mortgage interest relief to be got on company investments or is this only for personal mortgages. sorry should have posted this in taxation but not sure how to move the post now.
investment property tax question
- Thread starter oaky9
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Brendan Burgess
Founder
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Re: investment property
Please read the Posting Guidelines and edit the title of your thread accordingly.
Brendan
Please read the Posting Guidelines and edit the title of your thread accordingly.
Brendan
just have 200k and have to invest it as it is getting nothing in a current account. was asked to invest in a managed fund for 2 years and the investment manager who i know personally said it will gain 30% but he would say that, they are investing in 5 irish blue chip companies and he said the dividends alone would be great but the deadline is in mid dec and i wont have my 200k till mid january.
At the very least stick it in one or more high rate deposit accounts while you make up your mind on what to do longer term! See the Financial Best Buys forum for details of the latest product/rate offerings.
How can he guarantee 30% returns!?! Sounds like a totally speculative punt to me in the absence of further info. Any concentrated (e.g. investing in a handful of stocks in a specific grographic region, market sector etc.) will usually have a higher than normal risk/reward profile so you should be prepared for significant volatility. You should get independent, professional advice instead of listening to stuff like this in my opinion.
thanks clubman yes i would be inclined to stick the money on a guaranteed deposit account with one of our major banks. not really interested in rabo and other online banks although rates might be a bit better i need total piece of mind will checkout the financial best buys now.
Rabo are not any less secure than Irish banks. In fact it's possible that they are more secure. I'm not sure. And NR deposits are fully guaranteed. In fact the UK compensation scheme covers over twice what the Irish scheme covers under normal circumstances. Not sure about Rabo and whether they are covered by the Irish or Dutch (?) compensation scheme?
RaboDirect
Registered User
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Dutch Deposit Guarantee System
RaboDirect is covered by the Dutch Deposit Guarantee system. This has been discussed extensively on previous threads on AAM. Please see the [broken link removed] of the RaboDirect.ie website for more details about the scheme. The Dutch scheme currently offers protection for the first €20,000 and then 90% of the next €20,000 for an individual. There are examples on our website of how it works.
Please also refer to the Investor Relations section of the Rabobank.com site for information about [broken link removed]. RaboDirect is the only Tripe A rated deposit taker in Ireland.
RaboDirect
RaboDirect is covered by the Dutch Deposit Guarantee system. This has been discussed extensively on previous threads on AAM. Please see the [broken link removed] of the RaboDirect.ie website for more details about the scheme. The Dutch scheme currently offers protection for the first €20,000 and then 90% of the next €20,000 for an individual. There are examples on our website of how it works.
Please also refer to the Investor Relations section of the Rabobank.com site for information about [broken link removed]. RaboDirect is the only Tripe A rated deposit taker in Ireland.
RaboDirect
Re: Dutch Deposit Guarantee System
I hadn't read the previous threads. Thanks for the info about the Dutch compensation scheme.
So their credit rating is tripe?
Re: Dutch Deposit Guarantee System
Nay, just requires Dutch Courage
Re the scheme
interesting the treatment of joint and multiple accounts, as always the devil is in the detail.
How does the Deposit Protection Scheme work? For a single customer with a total balance of €20,000, that customer would be reimbursed the full €20,000 under the Deposit Guarantee System.
For a single customer with a total balance of €50,000, that customer would be reimbursed the full amount of the first €20,000 under the Deposit Guarantee System, and 90% of the next €20,000 i.e. €18,000, so that customer will get back a total of €38,000 under the Deposit Guarantee System.
For two people with a joint account with a balance of €20,000, 50% of that balance would be attributed to each person (i.e. €10,000) and each would be reimbursed €10,000 under the Deposit Guarantee System.
If a customer has a single account and a joint account, the customer will only get paid out once. So if the customer has a single account with a €20,000 balance, and a joint account with a €50,000 balance, that customer will receive back €20,000 guaranteed. That customer would have a right to 50% of the joint account (i.e. €25,000) and would have a 90% guarantee of up to €20,000 of that, receiving €18,000 back from the joint account. The other joint account holder would be assessed separately on the balance of the €25,000 in the joint account.
I hadn't read the previous threads. Thanks for the info about the Dutch compensation scheme.
So their credit rating is tripe?
Nay, just requires Dutch Courage
Re the scheme
interesting the treatment of joint and multiple accounts, as always the devil is in the detail.
How does the Deposit Protection Scheme work? For a single customer with a total balance of €20,000, that customer would be reimbursed the full €20,000 under the Deposit Guarantee System.
For a single customer with a total balance of €50,000, that customer would be reimbursed the full amount of the first €20,000 under the Deposit Guarantee System, and 90% of the next €20,000 i.e. €18,000, so that customer will get back a total of €38,000 under the Deposit Guarantee System.
For two people with a joint account with a balance of €20,000, 50% of that balance would be attributed to each person (i.e. €10,000) and each would be reimbursed €10,000 under the Deposit Guarantee System.
If a customer has a single account and a joint account, the customer will only get paid out once. So if the customer has a single account with a €20,000 balance, and a joint account with a €50,000 balance, that customer will receive back €20,000 guaranteed. That customer would have a right to 50% of the joint account (i.e. €25,000) and would have a 90% guarantee of up to €20,000 of that, receiving €18,000 back from the joint account. The other joint account holder would be assessed separately on the balance of the €25,000 in the joint account.
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