Rental Income

  • Corporate landlords benefit from a 13 and a half percent tax rate on multiple properties that they rent out while an individual who finds themselves with an extra property to let, is faced with a 50 percent tax rate on their rental income and that’s unfair, according to Mayo Fianna Fail Deputy Lisa Chambers.

    As a result many properties in our towns and villages across the region remain vacant as it simply doesn’t make financial sense for the owner to rent it out and that is further impacting on the present housing crisis, the Deputy says.

    In the upcoming budget Fianna Fail are insisting that individual property holders must be given a tax break on their rental income, particularly if that landlord is prepared to provide a tenant with a 5 or ten year lease.

    Deputy Chambers has been telling Midwest News why her party believes this incentive needs to be put in place.