Landlords Finally Catch A Break With €10000 Retrofitting Tax Break
“THIS IS A renters’ world and we’re just living in it,” remarked landlord Mark Ganney, barely able to greet news of a €10,000 tax break as part of a retrofitting scheme with anything approaching positivity.
“About time, but this scheme let’s tenants stay in place while retrofitting is done – where’s the fun in that? Renters get a €500 tax credit now and what do us small landlords get? A maximum of €20,000 tax break for retrofitting two properties. And this is on top of the grants? Christ, throw me a bone here,” added Ganney, bereft at the thought of his third property being retrofitted without any incentives.
It is expected that a significant portion of landlords will not take up the scheme due the fact that such retrofitting will only benefit tenants in the form of cheaper energy bills and not catching illness via mold.
Ganney, who was down to his last block of apartments before the announcement, sees the tax break as a pitiful lifeline that when combined with the fact his tenants pay his mortgages barely keeps him with enough money to build a gold statue of himself.
“Wait? Are you serious? Ah for fuck,” Ganney, now ashen-faced said when informed that to avail of the scheme a landlord must also be tax compliant and registered with the Residential Tenancies Board.
“Eh, well, no I’m obviously tax compliant it’s just I have a landlord friend who isn’t. What’s his name? Gark, Gark Manney, yeah that’s it”.
Meanwhile, announcing the tax break Minister for Finance Paschal Donohoe denied the news was prompted by the fact a Fine Gael councillor, Ted Leddy, didn’t declare ownership of a company with 13 rental properties.