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Field question

  • 28-08-2012 3:03pm
    #1
    investment
    Registered Users, Registered Users 2 Posts: 573 ✭✭✭


    How much tax does a person have to pay if you.re renting a field ?


Comments

  • #2
    reilig
    Closed Accounts Posts: 7,401 ✭✭✭reilig


    investment wrote: »
    How much tax does a person have to pay if you.re renting a field ?

    Why would you have to pay tax on renting a field?

    Businesses (inc. Farms) pay tax on profit.


  • #3
    investment
    Registered Users, Registered Users 2 Posts: 573 ✭✭✭investment


    reilig wrote: »
    Why would you have to pay tax on renting a field?

    Businesses (inc. Farms) pay tax on profit.

    If I was renting it to man who was using it to make a profit ..how much tax would one have to pay on 6000 euro's?


  • #4
    Username John
    Closed Accounts Posts: 4,237 ✭✭✭Username John


    investment wrote: »
    If I was renting it to man who was using it to make a profit ..how much tax would one have to pay on 6000 euro's?

    Well Investment, thankfully for all people letting land - it doesn't matter if the person you are renting it to is making a profit or not, just as long as they pay ;)

    It all depends on what other income sources does one have? As that will determine how much tax you would pay on the 6k, same as if you got a bonus at work of 6k.


  • #5
    dar31
    Registered Users, Registered Users 2 Posts: 1,704 ✭✭✭dar31


    the 6k is taxable income


  • #6
    Black Smoke
    Closed Accounts Posts: 315 ✭✭Black Smoke


    Username John wrote: »
    investment wrote: »
    If I was renting it to man who was using it to make a profit ..how much tax would one have to pay on 6000 euro's?

    Well Investment, thankfully for all people letting land - it doesn't matter if the person you are renting it to is making a profit or not, just as long as they pay ;)

    It all depends on what other income sources does one have? As that will determine how much tax you would pay on the 6k, same as if you got a bonus at work of 6k.

    Seems like your question is a round about way, of figuring out how much more you can charge him for the field!!!!!

    If I was the guy renting the field, I'd be looking around for another field, and I'd leave the profit and tax on your field, to be one you could deal with yourself!!!!!


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  • #7
    just do it
    Registered Users, Registered Users 2 Posts: 5,422 ✭✭✭just do it


    investment wrote: »
    reilig wrote: »
    Why would you have to pay tax on renting a field?

    Businesses (inc. Farms) pay tax on profit.

    If I was renting it to man who was using it to make a profit ..how much tax would one have to pay on 6000 euro's?
    normal income tax rates although I think there is some relief for a long term lease. 5 years I think


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