Tax relief for Renting????

Matamoros

I am a Landlord ( I know, it sounds bad but I am one of the good ones, I hope ), I live in my house with a few guys from Slovakia who pay rent each month. They have been told that there is some relief that they can get from the Taxman on the rent that they pay. Has anyone been in this situation and maybe can you offer any thoughts on same. I have been on to revenue.ie but it seems unclear to my simple mind and now my brain hurts from trying to follow it all. Regards

subway

heres the info
http://oasis.gov.ie/housing/renting_a_flat_or_house/tax_relief_for_tenants.html

and heres the form
http://www.revenue.ie/forms/rent1.pdf

best of luck,
you can claim for a few years back if you have the proper documentation - rent recipts etc

Bamboozled

See here
http://oasis.gov.ie/housing/renting_a_flat_or_house/tax_relief_for_tenants.html

As far as I know you will have to be registered for them to be able to get it. If they go ahead and apply for it and you're not registered, you could be in a little bit of trouble.

[edit]Sorry for the same link. Slow internet today.

Matamoros

To Subway and Bamboozled, my thanks for your help.

chuckles30

Under the rent a room scheme you can earn up to 8000 in rental income without having to pay rent. So if you register for that, you're all square with the taxman & they can claim their rent relief and everyone is happy.

Jack_Flash

I'm a tenant and I'm thinking of applying for rent relief on an apartment that I rent. I haven't approached the land lord yet as I don't know how rent relief will sit with him. Can anybody tell me what it means for the land lord if I do this? What is the purpose of this relief?

Eoin

Jack_Flash wrote:

I'm a tenant and I'm thinking of applying for rent relief on an apartment that I rent. I haven't approached the land lord yet as I don't know how rent relief will sit with him. Can anybody tell me what it means for the land lord if I do this? What is the purpose of this relief?

Is your landlord charging you particularly low rent, or are you paying market rates? If you are paying full rates, then go for it - absolutely no reason why you should take the hit because he hasn't registered. Don't approach him as if you are asking for a favour, just ask him for his PPS number, and that he may be required to provide a letter confirming the amount of rent paid, and the dates.

I am not too sure about the "purpose" of the rent relief, but I wouldn't be surprised if it was set up to encourage people to apply for it, meaning that lots of previously unregistered landlords then had to register.

shoegirl

Jack_Flash wrote:

I'm a tenant and I'm thinking of applying for rent relief on an apartment that I rent. I haven't approached the land lord yet as I don't know how rent relief will sit with him. Can anybody tell me what it means for the land lord if I do this? What is the purpose of this relief?

Basically:

1. If he's ok with it, it means he pays tax
2. If he's not, he's a tax-dodging parasite

The purpose of the relief is basically not to disadvantage tenants when home buyers get mortgage interest relief by allowing them a bit off their tax. A good bit less, but still a bit.

Some of the rogue landlords who don't pay tax sometimes discount the rent or give you a bribe in lieu. Take it if you like, but remember that the landlord is breaking the law by not being registered and not paying tax, and these guys are far more likely to flout the law and try to rewrite your rights than those who are.

shoegirl

eoin_s wrote:

Is your landlord charging you particularly low rent, or are you paying market rates?

Have to add there that in my experience rogue landlords who aren't paying tax generally charge as much as anybody who does. Those mean enough to not pay tax on earned income are mean enough to still look for more profits than if they did.

FillSpectre

shoegirl wrote:

Have to add there that in my experience rogue landlords who aren't paying tax generally charge as much as anybody who does. Those mean enough to not pay tax on earned income are mean enough to still look for more profits than if they did.

In fairness most people would avoid tax if they could. Most landlords are better off declaring their rental property and income as they can get tax breaks. The only people it doesn''t suit is those who already own the property out right.

You can check if your landlord is registered here

http://www.prtb.ie/pubreg.htm

Do people think plumbers are mean when they do jobs for cash or is it only landlords are greddy and mean when avoiding tax?

I think everyone should pay their taxes including taxi men on their tips:p

Jack_Flash

What if I don't have a lease?