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14-10-2011, 14:38   #1
donegal100
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Universal Social Charge and Rental Income

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
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14-10-2011, 14:40   #2
squareboy007
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Quote:
Originally Posted by donegal100 View Post
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
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14-10-2011, 14:41   #3
donegal100
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Thanks, I take it this applies for all 2011 or begins in 2012?
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14-10-2011, 14:42   #4
squareboy007
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Thanks, I take it this applies for all 2011 or begins in 2012?
The USC is due since 1 January 2011
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30-04-2012, 20:34   #5
davidod
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Hi are you sure this is right ?

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

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Originally Posted by squareboy007 View Post
Universal Social charge is due on your net rental income. ie the €3000
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30-04-2012, 21:11   #6
MBateson
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What do you see on the link which disagrees on the 3K?
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01-05-2012, 00:26   #7
barneystinson
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Quote:
Originally Posted by davidod View Post


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
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01-05-2012, 15:35   #8
davidod
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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.....


Quote:
Originally Posted by barneystinson View Post


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
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