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Question on commericial rent

  • 02-01-2018 07:29PM
    #1
    kevinkhancork
    Registered Users, Registered Users 2 Posts: 2 ✭


    Hi there.

    Just looking for a bit of advice.
    Im thinking of renting a commerical unit for storage this year.

    Lets say my income tax for 2018 will be 10,000 and the gross rent on the unit is
    400 + Vat per month + 150 (rates) . Total €642

    How will my income tax be effected by this?

    Thanks


Comments

  • #2
    Lockedout2
    Registered Users, Registered Users 2 Posts: 401 ✭✭Lockedout2


    The rent reduced the taxable profit.

    So say your profit was €40,000 and you incur addition rent and rates of 550 per month then your profit would be €6,600 lower so your tax bill would be approx €3,300 lower of you are single.


  • #3
    kevinkhancork
    Registered Users, Registered Users 2 Posts: 2 ✭kevinkhancork


    Thanks you very much. i understand now ;)


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