Becoming a landlord

Feelgood

I am living in Australia at the moment and have decided to start renting out my house in Ireland while I am away. I have a tenant lined up but I have no idea what I need to do in terms of registering as a landlord, how I pay tax on rental income etc.

Can someone please point me in the right direction?.

Cheers.

You need to register with the prtb. Do a tax return on rental income due oct for previous year. Because you live abroad you will have to pay with holding tax of 20% per month, usually collected by agency or tenant. You can claim back a good chunk of this though. One important thing when doing rax return you don't use your pps number, you get a seperate pps number as a landlord living abroad. I learnt this only recently and was delayed claiming back the with holding tax as there was confusion because I used my personal pps number.

NIMAN

check out www.irishlandlord.com, full of useful info.

Mrs OBumble

Be aware that unless you use an on-shore agent, your tenant is required to withhold 20% of the rent and pay it to Revenue on your behalf. And Revenue will assist your tenant to do this via the PAYE system, so don't just assume you can work around it.

You should also check with an Australian tax advisor what you have to do re declaring foreign income there.

Feelgood

Thanks for the info, much appreciated.