Thursday 20 June 2019

Taxing times for overseas property owners

John O'Keeffe

There's just something about the taxman. Much and all as we claim to scorn the ground he or she walks on, you know there's a sneaking regard for them -- only if because they can put your name in the newspaper and make you feel cheap. For us more lowly types perhaps that's not so likely, but nonetheless we need to ensure that the taxman gets his pot of gold from us, while at the same time ensuring he doesn't bankrupt us in the process.

The big question on small Irish investors and holiday home owners' minds is what tax needs to be paid on rental incomes abroad. After all, whether the taxman wears a sombrero or a bowler, he still wants his pound of flesh. Enter stage left our good friends at Property Taxi International, a company who will find the best ways for you to reduce your tax exposure and finance costs -- in English that means they'll assist you in paying as little tax as you need to by writing off all legitimate expenses.

These guys won't just ensure tax compliance in whichever jurisdiction that your home happens to be, however. They will secure the best mortgage available, tailored to your specific requirements, while also offering a comprehensive service to ensure you realise the maximum profit potential from your investment. The bit I really like, however, is that they process over 120,000 foreign tax returns a year and, as they have a dedicated tax research team, have the latest knowledge of the constantly changing property tax laws and regulations across jurisdictions. I mean, you just couldn't be bothered thinking about it for yourself now could you?

So, whether you have concerns about that Polish retreat of yours or the likelihood of a double taxation treaty with Brazil affecting your apartment there, these guys will pour soothing oils over your troubled overseas tax affairs. Bliss.

For further information on effective tax solutions on your overseas property contact Property Tax International at 12-14 College Green, Dublin 2, on 1890 930 393 or visit www.ptireturns.com

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