Investors make it hard on FTB's: Why doesnt the Govt clamp down on them?

Labour have always had a bit of an ambivalent attitude towards the bin charge protesters: they've never quite come out and condemned the tax evading tactics outright.

If people want to debate tax evasion, bin charges or indeed the Labour Party they are free to start another thread. In the meantime can we keep this debate to the point.

Investors make it hard on FTB's and why doesnt the governement do something about it?

Thanks
ajapale

Why not cap the relief for investors at the same level as the cap for residential buyers? A fairly simple and not too drastic approach to even out the playing fields and help some FTB's to get a foot on the latter. Why not increase the threshold for the rent a room scheme in line with rental inflation each year - this should take it up €10k or €12k now - Allow an FTB to rent out 2 rooms without risking going over the threshold.

I've seen two 30-something family members 'emigrate' (one down the sticks, one down under) in one month as a result of their inability to buy a half-decent house in Dublin. We can't allow the current situation to continue.

Re: Investors

daveco23 said:

tax them higher .
Why do that? I understand your frustration, but why punish people for showing some initiative and entrepreneurial get up and go?

Click to expand...

I don't see it so much as a punishment but more as a protective disincentive. Anything that moves investors (particularly the amateur johnny-come-lately ones) away from the property market is probably for their own good given the way things are looking..

I mean seriously who is buying propery now in Dublin with a view to big profits in asset appreciation ?? Can't be the smart money, can it ?

Lots of not very bright people out there in Dubbellin though.

Look at all the support that Labour and the Shinners get

The world doesn't begin and end in Dublin, ye know

While I don't have a problem in principle with rainydays proposal (even though I am a landlord) I really don't see how it would work in practice. A company is taxed on its profits. Interest payments on business loans are an expense and so are deducted from income when calculating tax liability. There would be all sorts of grey areas if you tried to bring in this law. For example would it apply to commercial properties? If it didn't apply what would be the situation where a shop with living accommodation was let out on a single lease?
It strikes me that the only people who would by effected by this would be the small time investors as large companies with good accountants and lawyers would find a way around it. This might help first time buyers in the short term but those big players would fill the gap faster than the FTB's. It would also not sit very well with those holding socialist views of how the world should work.