Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Universal Social Charge and Rental Income

  • 14-10-2011 1:38pm
    #1
    Registered Users Posts: 37


    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


Comments

  • Registered Users Posts: 108 ✭✭squareboy007


    donegal100 wrote: »
    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


  • Registered Users Posts: 37 donegal100


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


  • Registered Users Posts: 108 ✭✭squareboy007


    donegal100 wrote: »
    Thanks, I take it this applies for all 2011 or begins in 2012?

    The USC is due since 1 January 2011


  • Registered Users Posts: 30 davidod


    Hi are you sure this is right ? :confused:

    http://www.askaboutmoney.com/showthread.php?t=150746
    Universal Social charge is due on your net rental income. ie the €3000


  • Registered Users Posts: 169 ✭✭MBateson


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


  • Advertisement
  • Registered Users Posts: 4,683 ✭✭✭barneystinson


    davidod wrote: »

    :confused:

    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 ;)


  • Registered Users Posts: 30 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.....:rolleyes:

    :confused:

    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 ;)


Advertisement