Nursing Home Tax Investment Scheme

Nursing Home Schemes have been successful in that they have provided more homes and day care facilities for the elderly at a time when our health care system has reached crisis point due to lack of beds.

Unlike the majority of the property tax schemes, which are soon coming to an end, Nursing Homes allowance schemes are set to continue with no fixed deadline.

Briefly, the full capital cost of building or refurbishing a nursing home qualifies for capital allowances that can be set against non-rental income of up to €31,750 per annum. Over and above that, you can offset the surplus allowances against rental income.

The full investment can be written off over a seven-year period, at 15 per cent per annum for the first six years and 10 per cent in the final year.

We have advised on the development of a number of Major Nursing Home Schemes in Ireland through the provision of Corporate Finance and Taxation Services