Section 23 type tax breaks are becoming increasingly difficult to source in major urban areas, with buyers having to make the compromise of buying in more remote centres to avail of tax incentives.
Property Partners Maxwell & Heaslip brings to the market a property where no compromises will have to be made.
10 Ballybane village development is a scheme just three years old which has section 23 type tax relief against all rental income, alternatively for owner occupation the tax relief can be taken in a straight line manner in the first 10 years.
Constructed in 2005 this development has proved a success. This is the location of the new HSE offices, a new library for the area and several retail outlets.
With its location and proximity to GMIT the residential portion has all been successfully let and managed since inception.
There is a great advantage in that there is no rent pooling in this scheme, which is a feature of many tax shelters and this property has been let since inception at over €9,000 a year. The property was fully fitted from new and these fixtures and fittings are included in the sale.
Selling agent Alan Maxwell anticipates a strong demand emanating from accountants looking to shield clients’ funds from tax, and with these opportunities getting fewer and fewer, it will definitely be a case of the early bird getting the worm.
This property can be viewed or any further information regarding the availability of the tax shelter can be obtained by contacting selling agent Alan Maxwell at Property Partners Maxwell & Heaslip at 565261.
