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Rental property tax question

tokidokiame · 2012-05-06 11:27:05

Ok just to give you the run down. Me and my dad currently own a property (apartment) we get about €1200 a month from it and split it 50/50. He was going to put the full property in my name. Im just wondering what percent taxes I will have to pay and what can I claim. Im currently unemployed. Am I right to say that it has a…

06-05-2012 11:27am

#1

tokidokiame

Registered Users, Registered Users 2 Posts: 19 ✭

Join Date: December 2011

Posts: 10

Ok just to give you the run down. Me and my dad currently own a property (apartment) we get about €1200 a month from it and split it 50/50. He was going to put the full property in my name. Im just wondering what percent taxes I will have to pay and what can I claim. Im currently unemployed. Am I right to say that it has a 20% rental income tax?

Thanks guys.

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Comments

#2 07-05-2012 5:56pm

Citizenpain

Registered Users, Registered Users 2 Posts: 2,004 ✭✭✭

Join Date: November 2008

Posts: 1952

rental income is at the same rate as any income tax -- if you are paying at the higher rate in your job you will pay at the higher rate for your rental income

lots of info here
http://www.revenue.ie/en/tax/it/rental-income.html

75% of mortgage interest is allowed against income if PRTB registered

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