Re: Re: Smithfield Market Development
Smithfield is unrecognisable now from the way it was 10 yaers ago. Is this not the result of tax relief and the Luas?
Private cash was invested in the area that otherwise might have gone abroad. Had the reliefs not been available, the individuals might have found other ways to rearrange their tax affairs to pay less.
Whether it is worth keeping these incentives now is another question. The tax incentives raise the price of property in the area, so investors end up overpaying compared to similar property in a non-incentive area.
The real winner is someone like Duffy’s scrapyard that owned the development land before the tax status was announced.