Boards.ie uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Click here to find out more x
Post Reply  
 
Thread Tools Search this Thread
20-09-2019, 14:50   #1
good vibes
Registered User
 
Join Date: Jun 2009
Posts: 96
New Landlord Queries

Hello there...
I'm considering buying I'm renting out the house or becoming becoming an owner occupier....& Renting out rooms

I see on the revenue web page... It says as an owner occupier I must just be resident for greater part of the year.. I have a couple of questions on the The above.

1.what does it mean exactly to be resident for the greater part of the year ear ?.. is there a time frame ?

2. If I rented an apartment in another country.. ( Europe ) how would this affect me as and owner occupier in Ireland.

3. If I was to live abroad part of the year how would this affect house insurance ?

4. If I rent the whole house out... Could I live in a Granny flat in the garden and would I be taxed or not ?

Any help would be appreciated
Thanks in advance....

Last edited by good vibes; 20-09-2019 at 17:22.
good vibes is offline  
Advertisement
20-09-2019, 20:19   #2
L1011
Moderator
 
L1011's Avatar
Split from ancient thread
L1011 is offline  
Thanks from:
21-09-2019, 05:26   #3
DubCount
Registered User
 
DubCount's Avatar
 
Join Date: May 2016
Posts: 397
OP. Please get some independent financial advice from an investment advisor/accountant. There is potential to make a big financial mistake here, and you need good advice to make sure you are going in the right direction

When you refer to Revenue Web Page, are you referring to Principal Private Residence Exemption from CGT, Rent a Room Relief from Income Tax, Rules on Tax Residency, or something else. Different elements of the tax code can have different rules. Then there is the law on whether your "renter" is a tenant or a licensee. There's lots to consider.

On insurance, I guess that depends on your specific policy rules, but I would inform the insurance company if I was spending an extended period away.

Good luck
DubCount is offline  
Thanks from:
21-09-2019, 09:47   #4
BrokenArrows
Registered User
 
BrokenArrows's Avatar
 
Join Date: Feb 2005
Posts: 7,159
Quote:
Originally Posted by good vibes View Post
Hello there...
I'm considering buying I'm renting out the house or becoming becoming an owner occupier....& Renting out rooms

I see on the revenue web page... It says as an owner occupier I must just be resident for greater part of the year.. I have a couple of questions on the The above.

1.what does it mean exactly to be resident for the greater part of the year ear ?.. is there a time frame ?

2. If I rented an apartment in another country.. ( Europe ) how would this affect me as and owner occupier in Ireland.

3. If I was to live abroad part of the year how would this affect house insurance ?

4. If I rent the whole house out... Could I live in a Granny flat in the garden and would I be taxed or not ?

Any help would be appreciated
Thanks in advance....
1. Tax residency is 183 days per year. So over 1/2 the year.

2. Not if you're tax resident and live in the house when in Ireland.

3. Talk to insurance company.

4. Yes you would be taxed. You need to live in and use the main residence.
BrokenArrows is offline  
Post Reply

Quick Reply
Message:
Remove Text Formatting
Bold
Italic
Underline

Insert Image
Wrap [QUOTE] tags around selected text
 
Decrease Size
Increase Size
Please sign up or log in to join the discussion

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Share Tweet