Property Tax Hacks : Government Contracts, VAT And Inheritance Tax - Are You Ready? Irish Tax Unwrapped podcast

Property Tax Hacks : Government contracts, VAT and Inheritance Tax - Are You Ready?

2M ago 28:09

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In this second podcast on taxing property we discuss the tax treatment of government contracts, VAT pitfalls and estate planning. The landscape of property taxation is a strategic game where classification is everything. What seems like a straightforward rental income could, in fact, be trading income—bringing a completely different tax treatment.

Join Josh, along with tax experts Daphne and Derek, as they break down:

The Investment vs. Trading Divide – The crucial distinction between passive rental income and active property businesses. We discuss cases where landlords operating emergency accommodation for local councils were reclassified as businesses and how this shift impacted their tax bills.

VAT Pitfalls & Planning – Many landlords and Airbnb operators assume VAT doesn’t apply to them—until they breach the €40,000 threshold or sign a government contract. We explore how VAT exemptions work, when rental income becomes VATable, and why failing to plan ahead could cut deeply into your margins.

Business Relief & Estate Planning – When it comes to inheritance tax, the difference between an investment and a trading business can mean paying 33% tax or just 3.3%. We look at real cases where property owners won—and lost—their fight for business relief and why proving "active management" is the key to securing tax benefits.

With real-world tax cases, sharp insights, and a few rugby analogies along the way, this episode is a must-listen for advisors, investors, and anyone earning income from property.

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Chapters

1. Property Tax Hacks : Government contracts, VAT and Inheritance Tax - Are You Ready? (00:00:00)

2. Introduction (00:00:30)

3. Tax headlines (00:01:20)

4. Tax headlines - Ireland-US relations (00:01:54)

5. Tax headlines - Altada (00:03:30)

6. Tax headlines - granny flats (00:03:40)

7. Tax headlines - tax rules denying refunds to disadvantaged (00:05:10)

8. Tax headlines - Altada Level 3 investigation (00:08:14)

9. Taxation of property - trading v investment and impact on the rate of tax (00:10:50)

10. Taxation of property - VAT and VAT threshold for short-term lettings (00:15:31)

11. Taxation of property - estate planning (00:21:42)

9 episodes