Urban/Rural Renewal Schemes
Incentives Applicable
Commercial/Industrial Development
Owner-Occupier Capital Allowances
50% initial allowance in Year 1 and a 4% annual allowance up to a maximum of 100% or free depreciation up to 50% in Year 1 and a 4% annual allowance up to a maximum of 100%
Investor/Lessor Capital Allowances
50% initial allowance in Year 1 and a 4% annual allowance up to a maximum of 100%
Residential Development
Owner-Occupier
New Construction:
50% of eligible construction costs allowed at the rate of 5% per annum
over 10 years against total income
Refurbishment:
100% of eligible construction costs allowed at the rate of 10% per
annum over 10 years against total income
Investor/Lessor
"Section 23" relief
100% of eligible construction refurbishment or conversion costs may
be set against Irish rental income (including income from other lettings)
Note:
Free depreciation allows a taxpayer the option of increasing the amount of annual allowance for any year, subject to the aggregate amounts of the allowance so increased not exceeding the percentage of the expenditure available for free depreciation.