Media reports suggested that the Local Property Tax to be paid in respect of rental residential properties will be deductible in the Case V computation. However, Chartered Accountants Ireland has confirmed with the Department of Finance that there are no plans to have an amendment in Finance Bill 2013 which would give effect to this treatment. We understand that the relief may be introduced on a phased basis in the future.

TaxSource Extra, Chartered Accountants Ireland's online tax legislation resource now includes the full text of the Local Property Tax Act 2012 which subscribers can read, search and print as they require. The Local Property Tax Act 2012 was signed into law by President Higgins at the end of December and contains 159 sections and a schedule. TaxSource Extra also includes the fully consolidated versions of the four key Irish Tax Acts:

• Taxes Consolidation Act 1997
• The Stamp Duties Consolidation Act 1999
• Capital Acquisitions Tax Act 2003
• VAT Consolidation Act 2010

as well as relevant supplementary legislation, Regulations and key Revenue guidance material.