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Mortgage Interest Relief against rental income.

biznewbie

I'm curious if someone can provide clarification on Mortgage Interest Relief in relation to rental income.

If I rent out my home, am I eligible to deduct the interest I pay on the mortgage as an expense, thereby reducing the amount of taxes I owe? In other words, if I receive €1500 in rental income and pay €500 in interest, would I be taxed on €1000 rather than the full €1500?

Thank you in advance.

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Rows Grower

If you rent out your home where will you live?

SureYWouldntYa

https://www.boards.ie/discussion/2058303689/mortgage-interest-relief-against-rental-income

Yes that is exactly how it would work

100% of the interest is allowed as a deduction since 2019, and the tenancy must be registered with the RTB

See below guide from Revenue

https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-04/04-08-10.pdf