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Earned Income Credit

Heisenburg81 · 2017-03-12 09:40:59

Folks, I did a lecture yesterday and in relation to the earned income credit the lecturer said he was applying it to clients in relation to their rental income when no PAYE and no Case 1/11 income. Surely this is incorrect? Rental income is passive income and the credit is designed for purely "earned" income as it is named!

12-03-2017 9:40am

#1

Heisenburg81

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Posts: 187

Folks,
I did a lecture yesterday and in relation to the earned income credit the lecturer said he was applying it to clients in relation to their rental income when no PAYE and no Case 1/11 income.
Surely this is incorrect?
Rental income is passive income and the credit is designed for purely "earned" income as it is named!

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Comments

#2 12-03-2017 11:01am

Lockedout2

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Posts: 401

Ya I would agree rent is not earned income.

According to http://www.revenue.ie/en/about/foi/s16/income-tax-capital-gains-tax-corporation-tax/part-15/15-01-44.pdf
Section 3 TCA 1997 defines earned income.

http://www.revenue.ie/en/practitioner/law/notes-for-guidance/tca/part01.pdf#page4

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