The first of a nationwide set of seminars on purchasing property through your self-administered pension will take place in the Menlo Park Hotel today from 2pm to 7pm. Hosted by Servatus, one of Ireland’s foremost financial planning consultancies, the main topic of the seminar is to highlight the benefits of using your pension when purchasing property.
The seminar will be of particular interest to investors looking to profit from the tax efficiency of using their pension to purchase property, rather than buying the property personally. The topic is one which is certain to attract an audience of property investors, professionals, and academics from all disciplines. The topic will be addressed by John Morrin, Geoff Whelan, and Iain Kilbane, senior financial planning consultants for Servatus.
Property investors saw their personally owned property rental returns diminished by a change in personal tax treatment in recent years, and now it attracts the same taxation as their regular income. Iain Kilbane made his views clear, saying: “The mechanism of purchasing property through your pension is an area which has attracted massive interest. Investors who own property personally are tired of seeing their rental income halved by the current tax regime. This self-administered pension structure is the solution to maximising the returns on your investment property.”
When using a pension vehicle to purchase property, the rental income to the pension fund is not subject to the usual tax regime so the receiving self-administered pension fund has:
No income tax.
No PRSI.
No USC.
No capital gains tax payable.
This method of property investment is allowing investors to maximise the rental income in the most efficient way possible by using a self-administered pension scheme. “There was widespread use of this method of pension planning back in the 'boom' era for larger funds, but now we are seeing the emergence of smaller funds from the self-employed and company directors transferring existing pensions to this type of pension/investment strategy,” added Kilbane.
Who should attend?
This seminar will be of interest to people who are self–employed, company directors, and property investors.
For further information call Servatus on (091 ) 421 900.
Servatus Ltd, 14–16 Sean Mulvoy Road, Galway. Phone: (091 ) 421 900. Email: [email protected].
