204. Deputy Kevin Humphreys asked the Minister for Finance his plans to address the rental income tax issue that arises where a family that owns an apartment that is now too small for its needs wants to rent out that property while continuing to pay the mortgage on it which may be in negative equity, while proceeding to rent a residence elsewhere suitable to the family's needs; if he will consider introducing an amendment to the Finance (No. 2) Bill 2013 to allow for the deduction of any income arising from the rent on the property the family owns against the expense of renting another property to address this tax liability, with the provision of strict criteria, as it would be of benefit to many families that want to move but cannot sell or save for a deposit for a negative equity mortgage, and free up apartments in areas of high demand; and if he will make a statement on the matter. [46611/13]

Summary

204. Deputy Kevin Humphreys asked the Minister for Finance his plans to address the rental income tax issue that arises where a family that owns an apartment that is now too small for its needs wants to rent out that property while continuing to pay the mortgage on it which may be in negative equity, while proceeding to rent a residence elsewhere suitable to the family's needs; if he will consider introducing an amendment to the Finance (No. 2) Bill 2013 to allow for the deduction of any income arising from the rent on the property the family owns against the expense of renting another property to address this tax liability, with the provision of strict criteria, as it would be of benefit to many families that want to move but cannot sell or save for a deposit for a negative equity mortgage, and free up apartments in areas of high demand; and if he will make a statement on the matter. [46611/13]

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• Tax Code

  xml · EN · 5 November 2013

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