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Tax Free Allowance for non resident

  • 11-05-2017 8:20am
    #1
    kilns
    Registered Users, Registered Users 2 Posts: 3,525 ✭✭✭


    Quick question, I have not been resident in Ireland since 2011.  Am I still entitled to a TFA during that period?

    For example, when renting out an apartment can the tax due from the rental income be offset against my TFA in that period?


Comments

  • #2
    munchkin_utd
    Registered Users, Registered Users 2 Posts: 7,939 ✭✭✭munchkin_utd


    Unless i am completely missing something here, if you are living abroad permanently then youre a tax resident of a different country so you pay tax on your income there, not in Ireland

    If you were living in Germany for instance, you'd declare the income from the apartment as income in Germany, and thats offset against interest payments, renovation costs and flights back home to "inspect/ maintain the apartment" (obviously visiting mammy was not the main purpose ! )


  • #3
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,145 ✭✭✭relax carry on


    munchkin_utd wrote: »
    Unless i am completely missing something here, if you are living abroad permanently then youre a tax resident of a different country so you pay tax on your income there, not in Ireland

    If you were living in Germany for instance, you'd declare the income from the apartment as income in Germany, and thats offset against interest payments, renovation costs and flights back home to "inspect/ maintain the apartment" (obviously visiting mammy was not the main purpose ! )

    That's not how it works. Rental income is taxable on Irish properties in Ireland. A non resident landlord is must declare their Irish rental income in Ireland. Depending on the double taxation agreement in place with the country they live in, they may get a credit for the Irish tax paid so they aren't double taxed.

    Also there hasn't been such a thing as a tax free allowance since the 90's.

    http://www.revenue.ie/en/tax/it/leaflets/it70.html#section21

    http://www.revenue.ie/en/tax/it/residence.html#section3


  • #4
    MFS2
    Registered Users, Registered Users 2 Posts: 35 ✭MFS2


    Hi there

    If the rental income is from an Irish property then you are liable to Irish income tax on that income. Presumably you are asking about current years as opposed to 2011. You may be entitled to some tax credits depending on your other income, whatever you get will be minimum.

    If your property is managed through an Irish agent, they should be deducting 20% withholding tax as you are a non resident landlord.

    Watch LPT and all the other historical property taxes also.

    PM if you would like to discuss further

    Best wishes


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