Flowing from Tuesday’s Budget, high earners can expect further restrictions on property tax reliefs and every buy-to-let investor can expect more reductions in the amount of mortgage interest they can offset as an expense against rental income, The Sunday Business Post reports.
Proposals to increase the €200 non-principal private residence (NPPR) charge could raise up to €100m in additional revenue a year for local authorities, with both coalition partners favouring significant increases.
Residency rules and qualifying criteria for artists’ tax exemption and Section 481 film projects will be tightened but the current reliefs are likely to remain unchanged after Budget 2012, according to The Sunday Business Post.
Families with three or more children can expect to have their child benefit payments curtailed in this week’s Budget, which will also see a rise in student registration fees, according to The Sunday Business Post.
The Government is likely to hit savers with a higher Dirt tax in this week’s Budget, costing investors about €1 for every €1,000 they have on deposit, The Sunday Business Post reports.