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Tax relief on mortgage interest

  • 19-12-2017 1:51pm
    #1
    David_Palamos
    Registered Users, Registered Users 2 Posts: 2 ✭


    I have a silly question.... In Holland you can deduct the interest you pay on your mortgage from your income, basically lowering the amount of income tax you pay. Is that possible in Ireland?

    Regards,
    dave.


Comments

  • #2
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    David_Palamos wrote: »
    I have a silly question.... In Holland you can deduct the interest you pay on your mortgage from your income, basically lowering the amount of income tax you pay. Is that possible in Ireland?

    Regards,
    dave.

    Maybe, if you took your mortgage out at the right time you get tax relief on mortgage interest. Unfortunately you would be receiving this at source so you wouldn't be noticing it.


  • #3
    Geuze
    Registered Users, Registered Users 2 Posts: 14,242 ✭✭✭✭Geuze


    David_Palamos wrote: »
    I have a silly question.... In Holland you can deduct the interest you pay on your mortgage from your income, basically lowering the amount of income tax you pay. Is that possible in Ireland?

    Regards,
    dave.

    Yes, but it has been abolished for all new mortgages.

    https://www.revenue.ie/en/property/mortgage-interest-relief/index.aspx


  • #4
    David_Palamos
    Registered Users, Registered Users 2 Posts: 2 ✭David_Palamos


    so basically a mortgage taken out in 1999 is not elligable for TRS.
    Thanks Geuze.


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