The Finance Minister has announced that those entering a new personal insolvency arrangement will be allowed defer payment of their property tax.
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Michael Noonan’s announced the measure in the Dáil as an amendment to the tax before it comes into force on July 1st.
But the tax will have to be paid – with interest – once the person becomes solvent again.
Minister Noonan’s also defended imposing a so-called ‘snitch-clause’ that forces people to declare to revenue if they become aware that a house was under-valued.
