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Important Message
for Investors/Landlords
Are you aware that ifyou have rental incomefrom new or old offices,
shops, factories, houses or flats you can enjoy tax-free relief
in the years ahead?
How
By purchasing one or more apartments which qualify for Section 23 of the
1981 Finance Act.
Warning
Although Section 23 relief has been extended for a further 3 years to 31 st March 1987
by Section 29 of the Finance Act 1983
one very significant change has been made to
the legislation.
Relief in respect of construction expenditure carried out after
31 st March 1984 will only be available for set-off against rental income from that
actual property. It will not be available for set-off against
other
Case V rental income.
Solution
Therefore if one wishes to enjoy the full and substantial benefits of Section
23
in the
years ahead,
it is essential to buy a qualifying apartment or house which will be
constructed by 31 st March 1984.
It would not actually have to be let by that date unless
relief was being claimed in respect of previous years rental income i.e. current year
Case V income.
You should contact your accountant or tax advisor immediately to discuss the matter.
Act Now
Ensure that you avail of this unique tax-shelter before the door closes. Apart from the
considerable tax-saving element it is also worth noting that well-located apartments
have consistently shown outstanding capital appreciation and this is expected to
continue throughout the eighties. The move to convenience living prompted by the rising
cost of fuel plus the security afforded by apartments are major factors in this regard.
Rental accommodation, including Section 23 units has been specifically excluded
from the new income-related residential property tax.
On request we will be pleased to forward to you and/or your accountant/tax advisor
our
Monthly List
of qualifying apartments and our free
Guide Booklet
(and latest
changes) to the Section 23 legislation.
Hooke & MacDonald
M.I.A.V.I. Specialists in Apartment Sales
19 Clare Street, Dublin 2. Tel. 601500.