Examples of Rental Business in a sentence
In the Rental Business, the Group rents office buildings and apartments.
A campus may establish a Car Rental Business Travel Account (CRBTA) by contacting their assigned corporate credit card representative.
A dividend paid by an Irish REIT from its Property Rental Business is referred to as a property income distribution.
Corporation tax is still payable in the normal way in respect of income and gains from any residual business (generally including any property trading business) not included in the Property Rental Business.
Instead, dividends paid to shareholders in respect of the Property Rental Business are treated for Irish tax purposes as income in the hands of shareholders.
Within the Irish REIT Regime, for corporation tax purposes the Property Rental Business is treated as a separate business from the residual business.
An Irish REIT is required, subject to having sufficient distributable reserves, to distribute to its shareholders (by way of dividend), on or before the filing date for its tax return for the accounting period in question, at least 85% of the Property Income of the Property Rental Business arising in each accounting period.
A loss incurred by the Property Rental Business cannot be offset against profits of the residual business.
Subject to distributable reserves, it is the policy of I-RES to distribute at least 85% of the Property Income of its Property Rental Business for each accounting period.
Where an asset used for the Residual Business begins to be used for the Property Rental Business, this will generally constitute a taxable market value disposal of the asset, except for capital allowances purposes.