Taxes Consolidation Act 1997 section 653AK

Restriction of deduction

Section 653AK provides that residential zoned land tax (RZLT) is not deductible when computing liability to income tax, corporation tax, capital gains tax, Universal Social Charge or the domicile levy.

• RZLT cannot be deducted in computing profits or gains chargeable to income tax, corporation tax or capital gains tax.
• RZLT cannot be deducted in computing amounts chargeable to Universal Social Charge or the domicile levy.
• The restriction applies notwithstanding any other provision of the Tax Acts or Capital Gains Tax Acts.
• The effect is that RZLT is an absolute cost to the landowner with no tax relief available against any head of charge.