Labour table amendment to Dáil Renters motion
- Critical that income from work isn’t taxed more than passive investment income.
Labour Finance spokesperson Ged Nash has tabled an amendment to the Sinn Féin motion tonight on renters and investment funds, calling for income from rent for all landlords to be taxed, at a minimum, at the same marginal rate as income from work.
Deputy Nash said:
“The Dáil will debate a Sinn Féin motion tonight that calls on the government to end the tax advantages given to institutional investors. The motion rightly calls on the government to address the loopholes and tax advantages enjoyed by these funds but the same rigorous rules must apply to all rental income.
“That’s why I have tabled a critical amendment that I am asking all parties and Independents to support.
“This is an important amendment as it seeks to ensure that income from rent for all landlords is taxed at a minimum at the same marginal rate as income from work, whether it’s a one off landlord or an institutional landlord or investment group.
“There has been some talk recently of reducing tax rates or providing new reliefs for small landlords. It is important that all Opposition parties back our amendment and send the government a message that earned income shouldn’t be taxed at a higher rate to money made from rent.
“Rents are at record levels so the argument that tax is a problem for one off, accidental and small landlords doesn’t stack up. The major problem in the rental market is that landlords when they decide to sell a property can use that as an excuse to evict their tenants. That provides people with no security in a rented home, compared to the benefits enjoyed by commercial tenants.”
Labour Party amendment:
“- ensure that income from rent in respect of all landlords is at a minimum taxed at the same marginal rate as income from work.”