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Question on form11 /cgt

  • 06-10-2008 8:27pm
    #1
    princefan
    Closed Accounts Posts: 6 ✭


    Hi all ,

    I'm filling out form 1 ( formerely 11 ) .
    Under section C Irish Rental income
    I received 7000 in rental income last year
    Other expenses are 5,200 .
    Is it correct that I just deduct one from the other and that then this is my
    "Amount of income after expenses but before capital allowances " and that I pay tax on this amount at 40%
    1800 *40% = 756 euros - ouch :)

    Thanks in advance for any suggestions .


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