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Tax on rental income

  • 23-01-2012 10:08am
    #1
    splashthecash
    Registered Users, Registered Users 2 Posts: 2,322 ✭✭✭


    Hi all - jasus, our government website is the most convoluted mess of information I've ever come across...:confused:

    Supposing I own a house but i rent it out to someone else and i get €650 a month from that individual. My questions..

    - Do I have to pay tax on that rental income as I only own one house
    - If so, what is the tax rate on my rental income does is it based on my salary?

    (BTW- I live in another house which I rent from someone else)

    Thanks for any answers!


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    splashthecash wrote: »
    Hi all - jasus, our government website is the most convoluted mess of information I've ever come across...:confused:

    Supposing I own a house but i rent it out to someone else and i get €650 a month from that individual. My questions..

    - Do I have to pay tax on that rental income as I only own one house
    - If so, what is the tax rate on my rental income does is it based on my salary?

    (BTW- I live in another house which I rent from someone else)

    Thanks for any answers!

    I find typing a word or phrase like rental income into the search box on the Revenue website leads to a few results. You might like to try Revenues guide to rental income. As its income, its taxable. It may be, due to your circumstances that you do not have to pay tax on it but you may be liable for USC and PRSI.

    http://www.revenue.ie/en/tax/it/leaflets/it70.html


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