Interest Relief

Section 97(2F) restores the tax relief for interest borrowings to purchase, improve or repair certain rented properties converted into multiple residential units before 1 October 1964 and which are purchased on or after 5 January 2001. A question has arisen as to what level of evidence is required to prove that a property was in fact converted into multiple residential units prior to 1 October 1964.

Revenue would accept a sworn affidavit from the previous owner of the property, produced by the Solicitor for the Vendor on conveyance, confirming that the property was in fact converted into multiple residential units prior to 1 October 1964.