[donegal100]

Hello,
I am a PAYE worker and pay USC through my pay cheque. However, I also am a landlord; I rent a house to tenants.
Say I earn €40,000 per year (gross) in my PAYE job. I earn €3,000 after expenses from the house rental. I pay 41% tax on this. Do I also pay 7% on the €3,000 or on €1,770 (i.e. the 59%)?

Thanks

[squareboy007]

Originally Posted by donegal100

Hello,
I am a PAYE worker and pay USC through my pay cheque. However, I also am a landlord; I rent a house to tenants.
Say I earn €40,000 per year (gross) in my PAYE job. I earn €3,000 after expenses from the house rental. I pay 41% tax on this. Do I also pay 7% on the €3,000 or on €1,770 (i.e. the 59%)?

Thanks

Universal Social charge is due on your net rental income. ie the €3000

[donegal100]

Thanks, I take it this applies for all 2011 or begins in 2012?

[squareboy007]

Originally Posted by donegal100

Thanks, I take it this applies for all 2011 or begins in 2012?

The USC is due since 1 January 2011

[davidod]

Hi are you sure this is right ?

http://www.askaboutmoney.com/showthread.php?t=150746

Originally Posted by squareboy007

Universal Social charge is due on your net rental income. ie the €3000

[MBateson]

What do you see on the link which disagrees on the 3K?

[barneystinson]

Originally Posted by davidod

Hi are you sure this is right ?

http://www.askaboutmoney.com/showthread.php?t=150746

All that link clarifies is that the 3k net rental income is indeed liable to USC...

On the good side you've managed to last a few posts longer on boards than you did on AAM

[davidod]

You're quite right seems crazy to charge income tax on a net loss i.e. you can have losses fwd to cover the profit rent but still pay USC..........

Re AAM - well it's his ball.....

Originally Posted by barneystinson

All that link clarifies is that the 3k net rental income is indeed liable to USC...

On the good side you've managed to last a few posts longer on boards than you did on AAM