Finance (Local Property Tax) Act 2012

133.

Income threshold increased by mortgage payments.

133.— (1) Subject to subsection (2), in the case of a relevant residential property—

(a) which is occupied by a liable person as his or her sole or main residence, and

(b) which is subject to a mortgage,

the gross income amounts referred to in section 132 may be increased by an amount which is 80 per cent of the amount of the mortgage interest payments that, as far as can reasonably be foreseen at the liability date in the relevant year, will be made before the end of the relevant year, by such a person in respect of the relevant residential property.

F136[(2) Subsection (1) shall apply in respect of a relevant residential property for a relevant year commencing after 31 December 2020 only where that subsection applied in respect of the relevant residential property for a relevant year commencing before that date.]

Annotations

Amendments:

F136

Substituted (22.07.2021) by Finance (Local Property Tax) (Amendment) Act 2021 (31/2021), s. 39, commenced on enactment.

Editorial Notes:

E30

Previous affecting provision: sub. (2) amended (3.12.2018) by Home Building Finance Ireland Act 2018 (28/2018), s. 37, commenced on enactment, substituted as per F-note above.