Government to offer more cash, tax breaks for renters, landlords

Khalid Umar Malik
17 Sep 2023, 15:50 GMT+10

In next month's budget, the government plans to increase the €500 credit for renters and introduce a tax break for small landlords.
Kieran O'Donnell, Minister of State, stated that the coalition is now finalizing the details of the measures.
The government believes this combined approach will reduce renters' costs while keeping more landlords in the market and encouraging new ones to rent out properties.

DUBLIN, Ireland - In next month's budget, the government plans to increase the €500 credit for renters and introduce a tax break for small landlords.

Kieran O'Donnell, Minister of State, stated that the coalition is now finalizing the details of the measures.

The government believes this combined approach will reduce renters' costs while keeping more landlords in the market and encouraging new ones to rent out properties.

If it works, it will result in more rental homes becoming available.

According to Minister O'Donnell, the change could result in landlords receiving additional tax breaks on their earnings.

Taoiseach Leo Varadkar has stated that tenants' rights must also be strengthened.

According to Sinn Fin housing spokesperson Eoin Broin, rent is too high and rising.

He proposed a three-year ban on rent increases in the budget and a credit equal to one month's rent for every private renter.

He believes landlord tax breaks will do nothing to address the escalating housing crisis.

University of Limerick economist Stephen Kinsella called any move towards landlord tax credits a mistake that would not help solve the housing crisis.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Breaking Property News.

More Information

26 ℃

Mostly Cloudy in Seletar

International Business

Section

Adidas launches newest running shoes costing $500

LONDON, UK: This week, Adidas' newest running shoes, the Adizero Adios Pro Evo 1, went on sale for US$500. Worn ...

Pakistan notifies hike in LPG price by PKR 20 per kg, domestic cylinder price touches PKR 3079

Islamabad [Pakistan], September 30 (ANI): Dealing a further blow to the people already saddled with mounting inflation, Pakistan's Oil and ...

Pakistan: PIA service hit as five aircraft with no engines grounded

Islamabad [Pakistan], September 30 (ANI): Flight services of the Pakistan International Airlines' (PIA) were disrupted after five three Boing 777 ...

RBI extends deadline to exchange Rs 2,000 banknotes till October 7

Mumbai (Maharashtra) [India], September 30 (ANI): The Reserve Bank of India (RBI) has announced an extension of the deadline for ...

IMF Executive Board approves USD 1.3 bn for Morocco under Resilience and Sustainability Facility Arrangement

Washington DC [US], September 30 (ANI/WAM): The International Monetary Fund (IMF) Executive Board approved a Resilience and Sustainability Facility (RSF) ...

World Bank approves USD 365 mn for advancing girls, women empowerment in Western, Central Africa

Washington DC [US], September 30 (ANI/WAM): The World Bank Board of Directors today approved USD 365 million in International Development ...

Construction

Section