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Another TRS Question

  • 04-01-2013 3:23pm
    #1
    acr2998
    Registered Users, Registered Users 2 Posts: 8 ✭


    Hello all,

    Here's the scenario:

    Took out mortgage in 2005 as a first time buyer.

    Paid off mortgage in early 2009.

    Took out new mortgage in late 2009 (D'oh)

    I get TRS of 22.5% in 2010, 20% in 2011 and 20% in 2012.

    As a non first-time buyer, should my TRS be 15% per year for each of those years?

    If I'm being treated as a first time buyer with 2005 as my year of purchase, should my TRS then be 30%?

    If I'm being treated as a first time buyer with 2009 as my year of purchase, shouldn't my tax relief have been 22.5% in 2011 and 2012?

    If I have been given more tax relief than entitled to, I need to make provisions to pay it back.

    I would very much appreciate it if anyone could figure out what's going on here.


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