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Capital Allowances on Rental Income

  • 29-01-2021 1:17pm
    #1
    boccers
    Registered Users, Registered Users 2 Posts: 196 ✭✭


    If I move out of my current PPR house and want to then rent it out can I only claim capital allowances on things I buy after I move out for the sole purpose of renting? Like if I leave a couch, dishwasher, fridge, washer, dryer etc when I move out and they are say 3 years old can I claim 5 years on them or is it only stuff I buy brand new for the renters that I can claim 12.5% of?
    Apologies if this has been answered I can't find anything anywhere about it.


Comments

  • #2
    TaxPro
    Registered Users, Registered Users 2 Posts: 33 ✭TaxPro


    Don't know to be honest, but feels a little sketchy. In any case, if you were allowed them, it would be over 8 years based on the value of them at the date you started renting it out. For example, you buy a fridge for EUR 500 3 years ago, which is worth EUR 200 today - you'd get EUR 25 of capital allowances each year for 8 years.

    But going back to my original point, feels a little sketchy.


  • #3
    ismat
    Registered Users, Registered Users 2 Posts: 168 ✭✭ismat


    You can claim allowances on any fixtures in the house when you commence renting the house. Just value them at that date and claim over 8 years


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