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

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Tax relief on 2 properties?

tweety76 · 2007-08-16 08:19:27

Hi, I need advice. I am in the process of buying a new 2nd property and because of the "issues" in the current market we are considering letting our first property instead of selling. Can someone tell me if I will lose the tax relief on the 2nd property as we will now have 2 properties? i.e that we will still get tax…

16-08-2007 8:19am

#1

tweety76

Registered Users, Registered Users 2 Posts: 747 ✭✭✭

Join Date: September 2005

Posts: 697

Hi,
I need advice. I am in the process of buying a new 2nd property and because of the "issues" in the current market we are considering letting our first property instead of selling. Can someone tell me if I will lose the tax relief on the 2nd property as we will now have 2 properties? i.e that we will still get tax relief on the first house but not the second? Also can anyone tell me what is the % of tax I will have to pay for monthly "profit" on our first property. Thanks

0

Comments

#2 16-08-2007 8:28am

scargill

Registered Users, Registered Users 2 Posts: 1,684 ✭✭✭

Join Date: June 2004

Posts: 1546

I presume you mean Mortgage Interest Relief ? This relief is only available on your primary residence.

All is answered here: http://www.revenue.ie/faqs/trs_relief.htm

When you say tax on "profit" above I presume you mean Income Tax on your rental income ?

This is answered here: http://www.revenue.ie/index.htm?/leaflets/it70.htm

0