Mr. Brendan Allen:

That is correct. It is treated differently. It is treated as investment income so it comes under a totally different regime. In fact, the deductions that are available to a landlord are very restrictive. They are not the same as those available to a normal trading business. It is not treated as a trading business. For example, if a private landlord makes a loss on rental income, he or she cannot offset that loss against any other income he or she may have, whereas a trading business with PAYE income can offset such a loss. That is not available to landlords. It is a particular section of the tax Act that limits what landlords can claim. It is not the same as a normal business. That is something that could be considered.