What’s next then increase taxes on homes whoever has more then 30sm m pay extra, like I’ve no issues with funds and millionaires having spare homes paying, but I literally can’t give a shit about paying more taxes to someone who are lucky to have second home
It’s literally a luxury tax that will never be implemented so long as it affects the wrong people which is what it does. Some other countries treat holiday homes as shacks to spend a week or two in while Ireland goes noveau riche in a way that would make most Russian oligarchs blush, often it’s also a tax dodge as a handy way to store money in a high value asset where savings and investments are otherwise taxed.
But hey…it’s this way for a reason and won’t be changing anytime soon.
Oh, and we have to restrict one off housing for the rural plebs because that has the very handy side effect of driving up the value of holiday homes as well.
SF forced the government to row back on plans to raise the pension age, which has left us with an unsustainable pensions bill for the future. As a consequence we’re going to need lots of new taxes. No-one is going to raise a fuss for second home owners, but there will be more painful taxes impacting on everyone to come.
A.) Make short term leases a separate class of property. I.e. if you want you have it as a holiday home, or lease it out on a short term basis, e.g. Airbnb, it has to registered as this class of asset.
B.) Increase property tax on this asset type.
C.) As a bonus restrict the ability of single entities from purchasing multiple properties as a time, with a carve out for commercial use. Penalties for skirting this regulation like shell co.s and stuff.
What a great idea, tax people who own two houses, both of which they use. That’ll solve the problem! s
The issue is that there are funds with HUNDREDS of houses and apartments that they stick silly money rents on. I came across one the other day in Citywest. €1500 a month for a studio. They own dozens and dozens of houses and apartments. How is targeting holiday makers going to do anything to help that?
tax google ffs and amazon and any other tax dodger no wee pat working in dublin with a hoose in donegal
Work hard… tax hard! Annoying as fook!.
On the one hand, speaking as home owner (via inheritance) who also lives rurally near coastal towns I do agree that holiday homes that sit vacant for 11 months of the year should be taxed.
Millennials and Gen z have next to no hope of having a home, without serious privilege such as inheritance or the bank of mom and dad. And part of that reason is because of these holiday homes. They’re stuck in rental traps with little chance to ever break out.
However in saying that, this is just another easy target. Like attacking the poor for being poor.
Instead close tax loopholes, build more homes and stop allowing foreign and home based companies to buy hundreds of buy to rent properties that aren’t even finished yet.
I’ll probably get downvoted for this by the usual mob, but I strongly disagree with any proposals to tax a person’s second home / holiday home at a higher rate… firstly, the property owner already pays tax on their holiday home in the form of the annual Local Property Tax, and they’ve also spent hard earned money (which was also taxed) in the first instance to buy a property in Ireland…
Furthermore, this proposal is simply unworkable…
There are other measures which the government could introduce to alleviate the housing crisis but I don’t think anyone’s interested in discussing those!
Yeah lets shake down the people who own properties bought with money they were already taxed on. For the record I don’t own a second property but this is nothing but fkn theft. People work hard and pay enough taxes so they’re more than entitled to own second properties if they wish. Only people who are happy with this are people who’ve achieved fk all in life and are jealous of successful folk.
As someone who grew up in an area where the rate of houses in the area which are occupied maybe 4 weeks of the year maximum is around 65-70%, it is a depressing reality that I will never be able to afford to buy or build in the place I and many generations before me were born and reared. I don’t know what the answer is, but for me personally speaking it is not move to a city and abandon the countryside to be used as a theme park for the wealthy.
11 comments
What’s next then increase taxes on homes whoever has more then 30sm m pay extra, like I’ve no issues with funds and millionaires having spare homes paying, but I literally can’t give a shit about paying more taxes to someone who are lucky to have second home
It’s literally a luxury tax that will never be implemented so long as it affects the wrong people which is what it does. Some other countries treat holiday homes as shacks to spend a week or two in while Ireland goes noveau riche in a way that would make most Russian oligarchs blush, often it’s also a tax dodge as a handy way to store money in a high value asset where savings and investments are otherwise taxed.
But hey…it’s this way for a reason and won’t be changing anytime soon.
Oh, and we have to restrict one off housing for the rural plebs because that has the very handy side effect of driving up the value of holiday homes as well.
SF forced the government to row back on plans to raise the pension age, which has left us with an unsustainable pensions bill for the future. As a consequence we’re going to need lots of new taxes. No-one is going to raise a fuss for second home owners, but there will be more painful taxes impacting on everyone to come.
A.) Make short term leases a separate class of property. I.e. if you want you have it as a holiday home, or lease it out on a short term basis, e.g. Airbnb, it has to registered as this class of asset.
B.) Increase property tax on this asset type.
C.) As a bonus restrict the ability of single entities from purchasing multiple properties as a time, with a carve out for commercial use. Penalties for skirting this regulation like shell co.s and stuff.
What a great idea, tax people who own two houses, both of which they use. That’ll solve the problem! s
The issue is that there are funds with HUNDREDS of houses and apartments that they stick silly money rents on. I came across one the other day in Citywest. €1500 a month for a studio. They own dozens and dozens of houses and apartments. How is targeting holiday makers going to do anything to help that?
tax google ffs and amazon and any other tax dodger no wee pat working in dublin with a hoose in donegal
Work hard… tax hard! Annoying as fook!.
On the one hand, speaking as home owner (via inheritance) who also lives rurally near coastal towns I do agree that holiday homes that sit vacant for 11 months of the year should be taxed.
Millennials and Gen z have next to no hope of having a home, without serious privilege such as inheritance or the bank of mom and dad. And part of that reason is because of these holiday homes. They’re stuck in rental traps with little chance to ever break out.
However in saying that, this is just another easy target. Like attacking the poor for being poor.
Instead close tax loopholes, build more homes and stop allowing foreign and home based companies to buy hundreds of buy to rent properties that aren’t even finished yet.
I’ll probably get downvoted for this by the usual mob, but I strongly disagree with any proposals to tax a person’s second home / holiday home at a higher rate… firstly, the property owner already pays tax on their holiday home in the form of the annual Local Property Tax, and they’ve also spent hard earned money (which was also taxed) in the first instance to buy a property in Ireland…
Furthermore, this proposal is simply unworkable…
There are other measures which the government could introduce to alleviate the housing crisis but I don’t think anyone’s interested in discussing those!
Yeah lets shake down the people who own properties bought with money they were already taxed on. For the record I don’t own a second property but this is nothing but fkn theft. People work hard and pay enough taxes so they’re more than entitled to own second properties if they wish. Only people who are happy with this are people who’ve achieved fk all in life and are jealous of successful folk.
As someone who grew up in an area where the rate of houses in the area which are occupied maybe 4 weeks of the year maximum is around 65-70%, it is a depressing reality that I will never be able to afford to buy or build in the place I and many generations before me were born and reared. I don’t know what the answer is, but for me personally speaking it is not move to a city and abandon the countryside to be used as a theme park for the wealthy.