Threshold on the eviction ban

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Sliding scale of Tax relief depending on period of lease might suit some landlords,like CGT relief introduced.
 
How does it apply? Do I get the relief if I sign a 10 year lease with a renter who I know from the start will probably stay only a couple of years? When you meet potential renters you can somewhat see if it could be short even if it is not a bullet proof jugement call.
 
Sliding scale of Tax relief depending on period of lease might suit some landlords, like CGT relief introduced.
Most of these ideas are far too complicated.

The fact is that, in the absence of Indexation Relief for the last 20 years (!), especially now when inflation is rampant, a 33% CGT rate is both unsustainable and a massive disincentive against new investment.

Resolve that and then we'll talk.
 
Most of these ideas are far too complicated.
Fully agree. Tax and tenancy law are too difficult to align closely and forever. A CGT relief with the basic obligation on the vendor to prove that the property was let to a paying tenant or tenants for a sustained period would be simple enough to demonstrate and hard to fake.


The fact is that, in the absence of Indexation Relief for the last 20 years (!),
The abolition of indexation relief by McCreevy was a de facto wealth tax once inflation is >0% which it usually is. It is long past time to bring back indexation relief.
 
I think you're unconsciously contradicting yourself there. Any CGT relief contingent on the property being continuously let to paying tenants for a set period would present a lot of difficulties, particularly if there are unanticipated breaks in the lettings. The precedent of CGT retirement relief where the asset must be in continuous business use throughout a ten year period sounds simple but in practice can get notoriously complicated.
The abolition of indexation relief by McCreevy was a de facto wealth tax once inflation is >0% which it usually is. It is long past time to bring back indexation relief.
You are of course correct. The final indexation rate (for 2002 expenditure disposed of in 2003 or later) was a suprisingly high 4.9%.
Nobody really cared when the CGT rate was 20% and the sentiment was that values would keep increasing forever. But at 33% and in a more realistic environment, it's a different story.
 
It's not clear what sort of deadline will be given this time. I had decided to take a chance and rent again if ban was lifted. I could even do with a winter truce. Now, not sure what is going to be my plan.
 
I'd guess they will add exemptions for moving into it yourself or a son or daughter. Aside from that, like the RPZs, they will just continue extending it forever/until the housing crisis is solved
 
No one will fight for the small landlord. Student accomodation is shelved as its imposs8ble to charge market rent and make viable with rhe 2 percent restriction, so the government provide funding to make it viable and hail it as a success. Private landlord have to survive a.d can't shelve their investment. The 2% will stangle anyone in that market within 5 years.
 
Agree with the "too complicated" post.

Make it simple; align the tax rates of corporate landlords and smaller landlords so everyone pays 25% tax on rental income.

In return ditch the whole notion of off-setting expenses against tax.

Long term leases of 10 years to avail of 25% tax rate. Five year leases pay 35%. Shorter leases pay 50%.

Market rent applies at the start of each lease.

Annual rent reviews are done by RTB & they email owner & tenant.

Speedy eviction - within 3 months - for non-payment; otherwise tenant has right of residency for the full term of the lease.
 
Amen to the above.
 
Why have low income tax for one sector?
Corporate landlords pay corporation tax. Private landlords pay income tax. It's apples and oranges. It's nonsense to compare the two.

How about this; get rid of all restrictions and let the market function.
Have minimum standards for housing that apply to both public and private housing.
Evict any tenant, from public or private housing, that doesn't pay their rent for 3 months.
Keep the existing notice periods.

If I was banning anything it would be the State funded purchase of existing housing stock to turn it into public housing.
 
Make it simple;

I agree! But then you go on to make it very complex:

Long term leases of 10 years to avail of 25% tax rate. Five year leases pay 35%. Shorter leases pay 50%.

Most tenants in place for five or ten years didn't want it at the start, that's just the way it panned out. I am not sure that there is up front very much demand for ten-year rental contracts at all.

Tax treatment should simply be given to landlords with properties which are tenanted for a sustained period, whether it's one or five tenants shouldn't matter if your policy goal is to have lots of rental properties. As I've said before the simplest way to administer this is via a CGT relief if you hold the property for ten years or more.
 
not ....much demand for ten-year rental contracts at all
Tenants always have the option to move out. The point being they have security of tenure for ten years if they want it. The only reason they can be evicted is for non-payment of rent.
 
we're trying to solve a problem.
Yes, the only way to solve the problem is to let the market function. What we have now is essentially a command economy within the housing sector. Command Economies don't work. Ever.

I'm middle aged, well off and have assets so the bank bailout and QE suited me but they were damaging to society.
I have assets so the current extremely low rates of property tax on the assets which were inflated by QE suits me but they are damaging to society.
I'm a sitting tenant so the current arrangements suit me but they are damaging to society.

If you want to solve the problem then find a way to deflate property prices relative to income without wrecking the entire Western economy because this current problem of inflated capital values relative to labour was caused by QE and is a problem across much of the developed world. Our housing shortage is a symptom of that problem. That's why so many countries have the same problem. You don't fix a problem by thinking a symptom is the root cause.
 
Finland had a similar problem until they abolished rent controls and made it a free market. A lot to be learned.

Rent controls are an act of desperation. They destroy the rental market and encourage landlords to sell up. Eviction bans just compound the failure of rent control and failed housing policies

Something has to change in Ireland
 
The whole conversation around housing is extremely economically illiterate and emotive. The Mrs. Lovejoy "Will someone please think of the children" type reporting in most of the media doesn't help. For most politicians and commentators the "solution" has to fit inside their ideological envelope. That's a big part of the problem.

In my opinion we need to tax wealth retention more and wealth creation (labour) less. More property tax and less income tax. It's fairer if we want a society built on equality of opportunity and it lowers property prices. Then again I'm a bit of a socialist.
 
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