If you have a new account but are having problems posting or verifying your account, please email us on [email protected] 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 [email protected]

General Letting Question

  • 04-02-2023 3:00pm
    Registered Users Posts: 871 ✭✭✭

    Hi there,

    Just a quick question around buy to let.

    If you buy an apartment for say 250k. And the rent is 2k a month. Mortgage 1k a month. How much extra tax would you pay out of the remaining 1k each month?


  • Registered Users Posts: 7,668 ✭✭✭Grumpypants

    You pay tax on the whole 2k. You can't deduct mortgage payments.

    So you would pay roughly 1k a month in tax depending on your other tax liabilities (PAYE etc.)

    So in reality you would prob hand over all the rent and then have to add another 100-400 euro from your pocket to pay the mortgage and cover upkeep.

    Post edited by Grumpypants on

  • Registered Users Posts: 89 ✭✭blarb

    You can deduct the mortgage interest though if you tenancy is registered with RTB. See full list of deductions here:

    You'll probably be taxed at about 50% of whatever is left after deductions if you have other income.

  • Registered Users Posts: 606 ✭✭✭J_1980

    Even after taxes still worth it.

    i have a 2bed2bath Apartment in D4. It’s a goldmine. Easy 2.5k per month.

    irish people don’t buy apartments in general, hence have a discount vs. houses and good yield. They prefer to wait for prices on 3bed semis in Blackrock to drop, so plenty of opportunity to milk these renthogs.