Healy O'Connor

New Property Tax

Bad news for anyone who thought they might be able to dodge the new property tax is outlined in Section 118 of the new legislation which gives the Taxman power to deduct the property tax from any State payments the property owner might receive. So if you are in receipt of rental income from anyone who is on Social welfare the tax may well be deducted at source. The Revenue will be able to decide how they take it if you own more than one property.

As we have said before in respect of the household charge if you end up owing property tax and plan to sell you will have to pay the outstanding bill together with interest and penalties. During the conveyancing process it will be the responsibility of the Purchaser’s Solicitor to ensure this has been discharged before the deal completes. There will be no escaping this tax.

Tax Department Healy O’Connor Solicitors Cork & Dublin

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