Sir, – You report that Bob Jordan, chief executive of the Housing Agency (Business, February 12th), is encouraging older people to downsize to make larger homes available for younger families.
Many older people feel a strong attachment to their homes, which means that they are reluctant to sell. Some may consider downsizing by renting a smaller home for themselves while renting out their existing home to a younger family. However, our income tax arrangements mean that this option is a non-runner as the rental income secured is fully taxable without any allowance for the cost of renting a smaller home.
I think that Mr Jordan’s agency should lobby Government to reform these tax arrangements so that this downsizing option could be incentivised. – Yours, etc,
TOM SHEEDY,
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Malahide,
Co Dublin.
