donegal100 Registered User
#1

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 Registered User
#2

donegal100 said:
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 Registered User
#3

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

squareboy007 Registered User
#4

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


The USC is due since 1 January 2011

davidod Registered User
#5

Hi are you sure this is right ?

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

squareboy007 said:
Universal Social charge is due on your net rental income. ie the €3000

MBateson Registered User
#6

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

barneystinson Registered User
#7

davidod said:




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 Registered User
#8

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.....


barneystinson said:


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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