Re: Re: Smithfield Market Development

Home Forums Ireland Smithfield, Dublin Re: Re: Smithfield Market Development

Frank Taylor

This is an often repeated claim but I’ve never heard an argument towards why this might happen. If anything, you’re more likely to get doubly screwed by tax if you derive some of your income from foreign investments.

plenty of jurisdictions are happy to invest money without disclosing details to your home tax authorities – so long as they believe that you are not a criminal. Try Switzerland.

Let’s say, for the sake of argument, that there are 200 units in the new development in Smithfield with an average value of 400K. Assume a 90% qualifying cost yielding a total of 72 million worth of section 23 allowance which will be drawn down over the next few years by the landlords.

in this case, the relief would be 42% of 72million or 30.24million. The rest of the money (41.76million) is private cash.

If you had any imagination you could apply a host of conditions on that particular development in order to qualify for the grant aid.

Any number of conditions may be attached to tax relief – I don’t understand your point here.

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