Representing the owners of apartments and houses in ... Representing the owners of apartments and...

download Representing the owners of apartments and houses in ... Representing the owners of apartments and houses

of 65

  • date post

    09-Jul-2020
  • Category

    Documents

  • view

    1
  • download

    0

Embed Size (px)

Transcript of Representing the owners of apartments and houses in ... Representing the owners of apartments and...

  • Representing the owners of apartments and houses in managed estates

    Apartment Owners’ Network Company Limited by Guarantee Directors: Bryan Maher, David Rouse | Secretary: David Rouse Company Number: 592683 | Registered Office: Management Suite, Compass Court North, Royal Canal Park, Dublin 15 www.apartmentownersnetwork.org info@apartmentownersnetwork.org

    BY EMAIL: lptreview@finance.gov.ie Local Property Tax Tax Policy Division Department of Finance Government Buildings Upper Merrion Street Dublin 2 D02 R583 10 May 2018 Dear Sirs, Re: Public Consultation on Review of Local Property Tax (LPT) We wish to contribute to the Public Consultation on Review of the LPT. We note Recommendation 11 of the 2015 Review of the LPT (reproduced in Appendix I). That recommendation refers to the continuation of the exemption from LPT afforded to properties certified as having pyritic damage. We submit that this exemption should be extended to include properties in multi-unit developments (as defined in section 1(1) of the Multi-Unit Developments Act 2011) identified by a competent person as having building construction defects. The rationale for this proposed exemption is the same as that which led to the exemption for pyritic damage. Background on apartment sector By way of background on the apartment/multi-unit development sector, we enclose for reference in Appendix II the following recent submissions to the Department-

     Submission on the Tax and Fiscal Treatment of Landlords - 6 April 2017

     Pre-Budget 2018 Submission - 10 July 2017 We trust that our observations will be given due consideration in the review. We would be glad to contribute further by way of meeting, etc. Please contact us on info@apartmentownersnetwork.org should you have any queries. Yours faithfully, [*Sent by email and accordingly bears no signature] David Rouse Director

  • Appendix I - Recommendation 11 of the 2015 Review of the LPT

  • ��������������������������������������������������������������������������������������������������������������������������������� ������ ����������������������������� �!"�#���$���%�&'()������������������������� �*�+����,���-�.�-/�%�0 /1�0 %-1�2��0��� +������� ���-� �0���/1� /%��� ����� �� ��0 2��0�3�1���-��0���/4%� � /�-1��.��%�4%��� ��0�����-��0���� � ��� ����� ����4/�� ����-��43��0��5*67�� ���88�9:��"�9�;��0��? .��������10 /%-� �1�-���� .��+�� ���131����20���43�% �%��/�0 �����1��������(''���� ���� ��0��5*6���.��/�1����1�-�����0��������17�$/�0 �����1�2��0�2��@�����A�4�1�1�2 /%-� �1�B/���%3����-�� ��� ��.��1/��%�������3�CA 0�B/��� /�-��+7�� ���88�9:��"�9�DE�5*6�10 /%-�4����G-�1�+����-��1��0��5 �%�H /� �%�6�A�I5H6J�� ����0�1�1���0�������1�����A����1�-�� ���3� ��% �%� /� �%�1��.� �17� ���88�9:��"�9�DD�����1��� ����-�-��0�����0���A����� �� ����/������%� ��4/������4����1��� ��-�� ��0 1���� ������1��0���0�.��4���� ���� ��-�LMNOLPQRSNLNTLULSVNWLXQRSNYZN[\]NYWN[̂N_QXOǸWYSWVMMQYR]aN��0����3�����-���+�� ����/��� �4���� .�-�43���1�� �� ����-���1���+�43��� �����������1 ������

    �-�� ��2��0���1���-��-��/4%�10�-�43��0��b��� ��%�c���-��-1�$/�0 ���3� �F��%��-�Ibc$FJd��20����%��4%�����1 �1��%� ��� ��� ��� /���0�� 1�1� ���1���+��0�3�0�.���0�� ��� �� �1/4������+�43�2�3� �1�% G�11�11�������.�%/��� �e�.��/��� ���0���� ����3�20� 0�����0����.��2��� %� �1���1� /���������@���.�%/�d���20�����0��*3�����e�1 %/�� ��f ��-�I*efJ����1��������-�� �����-��������� ����3�2��0 /�� ���3��+� /��%�4 ��� �3���1���+>�e�.��/���

    ������ � ������ �� �����-���� �� � ���0��*ef����%��/� ��0��bc$F� ���� � ���g���->�20����������3�1/ 0��1���+/�������� ����3� ����4/�%-��h-�.�% ��������-����1����� ����3� �� ����1���1��0���� ����3� 2�������%��/� �����-���� �>�e�.��/���

    ���� � ������ �� ��0�1� � ���0������3����%��/� ��0��bc$F� ���� � ���7��iF��%������-�����0������� ��I5 �%�*� ����3�6�AJ�I$���-����J�$ ��&'(jk� ���88�9:��"�9�Dl�2��0���+��-�� ��0����%�� �43�2�3� ���-/ �-� 0��+��4%��.�%/�>��� ���1��XOVNXOWVMOYnTNXYNXOVNnVMMVWNYZNXOVNQRpWVLMVNQRNpOLWSVLonVNPLnmVNYWNtuvrvvvN_OQpON_YmnTNVRMmWVN�.��3 ���20 �����1��0��B/�%� 3��+� �-��� �1� /%-�4��� ��� � ���0����%�� �43�2�3� ���-/ �-�pOLWSVLonVNPLnmVNm̀NXYNLNULwQUmUNWVTmpXQYRNYZNtxvNyYRVNoLRT_QTXOz{N|OVNWVnQVZN_YmnTNMXQnnN �%3����%3�20�����0���-������ �1��� ���1���0�� 0��+��4%��.�%/�� ��0���� ����37��iF��%������-�����0������� ��I5 �%�*� ����3�6�AJ�I$���-����J�$ ��&'(jk� ���88�9:��"�9�D}

  • Appendix II – Apartment Owners’ Network – Submissions to Department of Finance

  • Representing the owners of apartments and houses in managed estates

    Tax and Fiscal Treatment of Landlords Consultation

    Submission

    to

    Tax Policy Division

    Department of Finance

    6 April 2017

  • 2

    CONTENTS 1.0 Introduction 2.0 Details of Submission 3.0 Conclusion

  • 3

    Abbreviations Used

    AON Apartment Owners’ Network CLG

    MUD Act Multi-Unit Developments Act 2011

    OMC Owners’ Management Company

    PIA Personal Insolvency Act 2012

    PMA Property Management Agent

    PRTB Private Residential Tenancies Board

    PSRA Property Services Regulatory Authority

    RTA Residential Tenancies Act 2004

    TCA Taxes Consolidation Act 1997

  • 4

    1.0 Introduction 1.1 Executive Summary This submission responds to the public consultation of 10 March 2017 issued by the Tax Policy Division of the Department of Finance in relation to the tax treatment of residential landlords. The Apartment Owners’ Network submits that the following amendments to tax law be considered- 1. Home Renovation Incentive Scheme to allow relief for OMCs/apartment owners

    2. Tax deduction for management fees only where tenancy registered with PRTB

    3. Tax deduction for management fees available only on paid basis

    4. Exemption from Corporation Tax for OMCs in respect of incidental income

    5. Exemption from Income Tax for fees and expenses paid to OMC directors

    6. VAT recovery on sinking fund capital expenditure incurred by OMCs

    7. Temporary exemption from Income Tax for “accidental” landlords

    8. Increase Revenue powers to inspect OMC records

    Further details on each proposal are set out in Section 2. 1.2 About the Submitter The AON is a volunteer-led, independent, non-party political organisation. We represent the interests and views of owners, both owner occupiers and investors, and OMCs, of dwellings in managed estates throughout Ireland. Membership of the Network is diverse. We include owners who are directors of OMCs, residents living in estates where the OMC remains controlled