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Emigrating and renting my house out - tax liability

  • 12-05-2016 08:03AM
    #1
    damienorourke
    Registered Users, Registered Users 2 Posts: 19 ✭


    Hi,

    We emigrated to Luxembourg last year. Currently my wife is not working.

    We now plan to rent out our mortgaged house in Ireland... It seems I am liable to 20% on the rent I receive.
    (Close friends want to rent the house on a long term basis, also want everything 100% legit. I don't want any nasty surprises down the road)

    Can we use any tax free allowance in Ireland to offset the rental "income" ?

    Thanks for any advise.


Comments

  • #2
    gerrybbadd
    Registered Users, Registered Users 2 Posts: 10,301 ✭✭✭✭gerrybbadd


    Tax free allowances haven't been available since 2002.

    If you are not living in this country, and are considered non resident for tax purposes, then you cannot claim tax credits (the replacement to tax free allowances).

    The usual allowable deductions (post letting expenses, capital allowances etc) can be used to reduce the taxable rental income however


  • #3
    snubbleste
    Banned (with Prison Access) Posts: 31,119 ✭✭✭✭snubbleste


    You are not liable for the 20% rent, the tenant is. If you have an agent in Ireland, then the tenant is not liable.


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