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rental income - means test

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  • 27-09-2020 7:25pm
    #1
    HowDoI?
    Registered Users Posts: 1 ✭


    Hi folks,

    I have a query, and this is the backstory: I am a single mom, and will be transferring from Unemployment Benefit to Unemployment Assistance next week and UA is means tested.

    I own a property, but had to move and rent out this property (not registered) and I am now renting elsewhere. This rental income covers my mortgage and contributes to my current rent. (I do not claim rent allowance.) I am hoping to be working in the next month, fingers crossed.

    My question is if I declare to Social Welfare that I have rental income for my house, will this
    a. affect my unemployment assistance rate? Do mortgage and rent payments get deducted from any rental income I receive?
    b. Do Social Welfare and Revenue communicate? If I tell Social Welfare that I have rental income, will they be obliged to let Revenue know?
    c. And if so, how do they calculate what income tax is due on the property? Will I have to backpay tax?

    Lots of questions, I really hope someone can help/advise me, as I don't know where to turn.
    Thanks in advance.
    Tagged:


Comments

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    #2
    antix80
    Registered Users Posts: 2,419 ✭✭✭antix80


    This isn't hypothetical.
    Declare your income.


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