A taxing time for buy-to-let investors
Unless you’re a cash buyer, the government has made sure it doesn’t make financial sense to get involved in buy-to-let
The prevalence of the cash buyer in investment property is easily explained. Deposit rates are at historic lows and the tax rate on deposits is 41 per cent. If you have enough cash to buy a property and it’s on deposit then you may also be a ‘chargeable person’ who must pay PRSI on your deposit income (it kicks in once you get more than €3,174).
So the equation is simple: say you had €300,000 and...
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