rental income taxation if moving abroad

andholm

If I move abroad and earn say 150k/annum and rent out my home in Ireland for 48k/annum, will I basically have to pay 40% on the rental income after allowable expenses and interest relief? If I have to rent in the new country, but give away nearly half of my rental income in Ireland, it's a bitter pill to swallow!

Any advice would be greatly appreciated.

Thanks

Mrs OBumble

No.

First 18k is roughly tax free.

18 to 35k is 20%

Rest is 40%

Roughly.

But you need to appoint an a agent to collect the cash, of the tenant will be responsible for giving 20% to Revenue.

Where you may get screwed is with the tax rules where you are living. If they require you to declare worldwide income, and don't have a double-taxation agreement, then things could get expensive.

andholm

https://www.boards.ie/discussion/comment/119843181#Comment_119843181

Thanks for your reply. The new country would likely be USA. Would that make things messy?

ari101

May depend on where you will be tax resident. Have a look at non resident rules linked below. Also be aware, in addition to the 20% deducted here, you may be liable for additional tax in another jurisdiction if you are tax resident there. Get some advice on double taxation relief and tax rates for rental if this is going to be the case.

https://www.revenue.ie/en/property/rental-income/non-resident-landlords/tax-obligations-non-resident-landlords.aspx