Hospital investment requires tax breaks

A peculiar situation exists in Ireland. A hospital may be deemed to be an industrial building.

15th January, 2005

A peculiar situation exists in Ireland. A hospital may be deemed to be an industrial building.

Former finance minister Charlie McCreevy introduced tax write-offs on the capital cost of building a qualifying hospital after May 15 2002.

The tax allowances are primarily possible to offset against profits from rental income over seven years, with 15 per cent allowances in the first six years and 10 per cent in the seventh year.

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