The 2018 Budget was introduced by Minister Pascal Donohoe, in his first Budget speech, to the Dail on the 10 October 2017.
It saw a new deduction of up to €5,000 is being introduced for pre-letting expenses of a revenue nature incurred by owners of a residential property that has been vacant for a period of 12 months or more.
This move aims to encourage owners of vacant residential property to bring that property into the rental market.
The relief will be available for qualifying expenses incurred up to the end of 2021. There will be a limit on allowable expenditure of €5,000 per property.
The relief will be subject to clawback if the property is withdrawn from the rental market within 4 years.