Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I move amendment No. 13:

In page 19, lines 35 and 36, to delete “the premises concerned ceases to be a rented residential premises” and substitute the following:“the person referred to in subsection (3) ceases to let the premises concerned as a residential premises”.

These amendments propose two technical changes to the legislation contained in section 12, which provides for the deduction of pre-letting expenses incurred in respect of residential property that has been vacant for one year or more. The amendments ensure that the provision operates as intended. The amendments relate to the operation of the clawback provision, which withdraws the relief if the property ceases to be let within four years. Amendment No 13 clarifies that the sale of the premises within the four-year clawback period by the person who claimed the deduction for pre-letting expenses, would trigger the clawback of the relief. Amendment No. 14 provides for the clawback of the relief to occur in the tax year in which the event that triggers the clawback arises.