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William Fry
William Fry
Are there any concessions from RCT applying to Does a de minimis amount apply?
No de minimis applies, except in limited circumstances. RCT applies
a property developer?
A number of specific reliefs or concessions apply such that a
property developer is not considered a principal contractor for
the purposes of RCT, namely:
If developing a building for their own use or the occupation of
their employees; or
If developing a building with the sole intention of letting it on
a short-term basis (Revenue defines this as being less than 35
years).
This concession does not apply where the property developer/
investor would be a principal for RCT purposes for other reasons.
It does not apply therefore where the property developer is
connected with a construction company or a company engaged in
land development.