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Taxation in the form of income tax should always be considered when looking at the net benefits in letting out property in short term arrangements.
31 December is a tax refund deadline date for income tax refunds in Ireland. An annual year end action should always include checking if the Revenue Commissioners owe you a refund.
The Pay and File extension dates for 2017.
The non principal private residence charge is deductible by landlords against rental income.
31 October 2016 is the pay and file deadline for income tax and capital acquisition tax. It is also the income tax preliminary tax payment date for tax year 2016.
There are some positive taxation developments in Budget 2017 for Ireland in relation to DIRT, CAT, CGT and USC. An increased earned income credit for the self employed has been announced.
The tax proposals for the next five years have been set out at a high level in the Programme for Government in Ireland 2016.
In summary the programme includes the following statements about taxation.
The Revenue Commissioners have made available a new Tax and Duty Appeal Manual in light of the new appeals process that commenced on 21 March 2016
You only have 4 years to make a claim for a tax refund from the Revenue Commissioners in Ireland.
Income tax deadlines are fast approaching for the filing of Irish 2014 income tax, Universal Social Charge (USC) and PRSI returns and the payment of the final amounts due (pay and file).
The Revenue Commissioners have issued a guide on the tax treatment of the proposed Vodafone return of value to Shareholders.
JobsPlus Incentive - a new incentive to encourage employers to hire the long term employed started on 1 July 2013.
These benefits which are payable by the Department of Social Protection (DSP) will be taxable in full from 1 July 2013.
USC and PRSI will not apply to these benefits.
Useful-Tools-for-Your Business (1)
Taxation of short term guest accommodation including AirBnB
Farm Consolidation Relief at the 1% rate of stamp duty has commenced
Stamp Duty exemption for farmers on certain leases
Critical business issues to action in 2016