ONLY ONE LEFT - Apartment No 4
GREAT VALUE - NOW ONLY €230,000
Last apartment remaining - Two Bedroom Apartment 96.65M2
Reduced to clear - was €330,000 (including fit out to €300,000)
Section 23 Development
Camcor House residential apartments qualify for Section 23 tax relief under urban renewal 1999. This is an investment incentive scheme allowing the qualifying percentage of the purchase price to be offset against all Irish rental income.
Camcor House allows the investor 100% allowance of eligible construction costs in year 1, if qualifying and is flexible in that any allowance not used in one tax year can be carried forward to the next. Any deductions left after the 10 year span of the scheme can be carried forward until fully utilized.
Owner-Occupiers
Owner-occupiers purchasing in Camcor House can obtain substantial tax relief against all income, including PAYE . The allowed rate is 10% of eligible construction costs per annum, over a ten year period. Owner-occupiers will get tax relief at source on mortgage interest paid at the standard rate of tax (20%). This means that under the current legislation, relief will be granted for the full eligible cost at the taxpayer's marginal rate. Under the "Rent a Room Scheme" an owner-occupier could share the apartment and have tax-free rental income.
Investors
The development qualifies for valuable Section 23 incentives which was terminated by the Minister for Finance in 2006 for later developments. It is predicted that there will be a shortage of qualifying units in the market due to this time constraint and any units now qualifying will have a premium value in the years ahead. This is the only development in the Birr area currently qualifying under the Urban Renewal Scheme 1999.
Investors buying Camcor House apartments will have tax-relief against rental income not only from the new units being purchased, but also on any other Case V rental income in Ireland, whether derived from commercial, industrial or residential property. Investors can deduct interest paid from gross rental income received. An investor will get tax relief on the mortgage/loan interest paid at the marginal rate of tax.
GREAT VALUE - NOW ONLY €230,000
Last apartment remaining - Two Bedroom Apartment 96.65M2
Reduced to clear - was €330,000 (including fit out to €300,000)
Section 23 Development
Camcor House residential apartments qualify for Section 23 tax relief under urban renewal 1999. This is an investment incentive scheme allowing the qualifying percentage of the purchase price to be offset against all Irish rental income.
Camcor House allows the investor 100% allowance of eligible construction costs in year 1, if qualifying and is flexible in that any allowance not used in one tax year can be carried forward to the next. Any deductions left after the 10 year span of the scheme can be carried forward until fully utilized.
Owner-Occupiers
Owner-occupiers purchasing in Camcor House can obtain substantial tax relief against all income, including PAYE . The allowed rate is 10% of eligible construction costs per annum, over a ten year period. Owner-occupiers will get tax relief at source on mortgage interest paid at the standard rate of tax (20%). This means that under the current legislation, relief will be granted for the full eligible cost at the taxpayer's marginal rate. Under the "Rent a Room Scheme" an owner-occupier could share the apartment and have tax-free rental income.
Investors
The development qualifies for valuable Section 23 incentives which was terminated by the Minister for Finance in 2006 for later developments. It is predicted that there will be a shortage of qualifying units in the market due to this time constraint and any units now qualifying will have a premium value in the years ahead. This is the only development in the Birr area currently qualifying under the Urban Renewal Scheme 1999.
Investors buying Camcor House apartments will have tax-relief against rental income not only from the new units being purchased, but also on any other Case V rental income in Ireland, whether derived from commercial, industrial or residential property. Investors can deduct interest paid from gross rental income received. An investor will get tax relief on the mortgage/loan interest paid at the marginal rate of tax.