Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Rental income tax

  • 29-11-2020 6:46pm
    #1
    antimatterx
    Registered Users, Registered Users 2 Posts: 3,170 ✭✭✭


    Hi

    I'm wondering what the tax rates on rental income is in Ireland? Is it essentially added onto your personal income less the mortgage and other deductables?

    I don't have a property, but I would like to down the line.

    Is there any formulas/calculators for this?


Comments

  • #2
    RunRoryRun
    Registered Users, Registered Users 2 Posts: 476 ✭✭RunRoryRun


    antimatterx wrote: »
    Hi

    I'm wondering what the tax rates on rental income is in Ireland? Is it essentially added onto your personal income less the mortgage and other deductables?

    I don't have a property, but I would like to down the line.

    Is there any formulas/calculators for this?

    Added to other income and taxed as usual. Also, full mortgage isn’t deductible, a % of mortgage interest is.


  • #3
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    https://www.revenue.ie/en/property/rental-income/irish-rental-income/what-expenses-are-allowed.aspx


  • #4
    Samuel T. Cogley
    Registered Users, Registered Users 2 Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    It's 100% of mortgage interest at the moment but that could change. In England I believe it's gone entirely.


  • #5
    into_the_wild
    Registered Users, Registered Users 2 Posts: 142 ✭✭into_the_wild


    Can a first time buyer claiming HTB scheme avail the "rent a room" relief too as long as the income is below 14k per year?


  • #6
    DubCount
    Registered Users, Registered Users 2 Posts: 1,094 ✭✭✭DubCount


    into_the_wild wrote: »
    Can a first time buyer claiming HTB scheme avail the "rent a room" relief too as long as the income is below 14k per year?

    Never heard of a restriction on this for HTB. You could call email Revenue for a view to be sure.


  • Advertisement
  • #7
    clayfarm1234
    Registered Users, Registered Users 2 Posts: 48 ✭clayfarm1234


    into_the_wild wrote: »
    Can a first time buyer claiming HTB scheme avail the "rent a room" relief too as long as the income is below 14k per year?

    I think there is a clause in HTB wherein the owner cannot rent the place to anyone else. I am not sure if renting a room is allowed though


  • #8
    Bigmac1euro
    Registered Users, Registered Users 2 Posts: 1,476 ✭✭✭Bigmac1euro


    Nothing stopping you renting out a room and availing of rent a room tax relief HTB or not.


  • #9
    sk8board
    Registered Users, Registered Users 2 Posts: 3,544 ✭✭✭sk8board


    clayfarm1234 wrote: »
    I think there is a clause in HTB wherein the owner cannot rent the place to anyone else. I am not sure if renting a room is allowed though

    Sublet restrictions of the whole house would be a normal clause of any lease, but renting a room would be ok I would think.


Advertisement