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Tax on Rental property

  • 12-09-2012 10:52pm
    #1
    Tmurf
    Registered Users, Registered Users 2 Posts: 95 ✭✭


    Not sure if there has been a previous thread on this but here is my situation.

    I have in the last year, rented out a house I own and registered with the PRTB.
    Just wondering what tax on this rent do I have to declare by the 31st oct deadline and how do I do it. Also what can I claim back for when I do declare.

    Thanks
    John


Comments

  • #2
    Bobby1984
    Registered Users, Registered Users 2 Posts: 269 ✭✭Bobby1984


    http://www.revenue.ie/en/tax/it/rental-income.html

    Here is a link which shows what rental income to return and what expenses can be offset against it.

    You firstly need to register for income tax by completing and sending Form TR1 to Revenue. The income needs to be returned each year on a Form 11/Form 12 depending on the circumstances along with any other income (from PAYE employment, self employment, dividends etc).

    My advice is see an accountant.


  • #3
    Tmurf
    Registered Users, Registered Users 2 Posts: 95 ✭✭Tmurf


    Is the 31st oct the deadline for last years tax ie 2011 ??


  • #4
    Bobby1984
    Registered Users, Registered Users 2 Posts: 269 ✭✭Bobby1984


    yep 31st October 2012 is for 2011 returns


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