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Want to earn 10k from vacant spare room???

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  • 25-04-2011 3:13pm
    #1
    xr2central
    Registered Users Posts: 52 ✭✭


    This is a new website called get digs.ie, its just getting off the ground and it allows home owners to advertise their spare rooms, and also lodgers can find suitable rooms in locations that suit them. A homeowner is allowed earn up to 10,000 euro from renting out their spare rooms without being liable for tax, and it is cheaper for the lodger than hotel rooms.

    As I say it is only starting out so not every county has rooms available yet, If you are interested go ahead and register or if you know anyone that may be interested pass it on. It is a new business and deserves support in these recessionary times. Thanks for looking:up:

    http://www.getdigs.ie/


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    #2
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    xr2central wrote: »
    This is a new website called get digs.ie, its just getting off the ground and it allows home owners to advertise their spare rooms, and also lodgers can find suitable rooms in locations that suit them. A homeowner is allowed earn up to 10,000 euro from renting out their spare rooms without being liable for tax, and it is cheaper for the lodger than hotel rooms.

    As I say it is only starting out so not every county has rooms available yet, If you are interested go ahead and register or if you know anyone that may be interested pass it on. It is a new business and deserves support in these recessionary times. Thanks for looking:up:

    http://www.getdigs.ie/

    Well the first concern is that you as the "face" of this website dont even know the tax liabilities of rent a room. Hardly a glowing endoresement to your website.

    your not allowed earn 10k for renting, your allowed recieve 10k of income which is different as it includes bills etc.


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    #3
    xr2central
    Registered Users Posts: 52 ✭✭xr2central


    D3PO wrote: »
    Well the first concern is that you as the "face" of this website dont even know the tax liabilities of rent a room. Hardly a glowing endoresement to your website.

    your not allowed earn 10k for renting, your allowed recieve 10k of income which is different as it includes bills etc.

    Amounts to the same thing really, tax free income. But of course you MUST be right, because everyone else on the planet is inferior, RIGHT:D


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    #4
    ztoical
    Registered Users Posts: 4,788 ✭✭✭ztoical


    Should also be pointed out that you are allowed 'earn' up to the 10k but the chances of someone getting anywhere near that is pretty damn slim. Rooms tend to go for between 90 to 120 if your lucky so your never getting anywhere near 10k with that unless you've got a 10 bedroom house or something.


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    #5
    xr2central
    Registered Users Posts: 52 ✭✭xr2central


    ztoical wrote: »
    Should also be pointed out that you are allowed 'earn' up to the 10k but the chances of someone getting anywhere near that is pretty damn slim. Rooms tend to go for between 90 to 120 if your lucky so your never getting anywhere near 10k with that unless you've got a 10 bedroom house or something.

    yes of course that is true, it is totally up to the homeowner how many rooms they rent out and for how many days, the flexibility is one of the main attractions. e.g family with child attending college away from home, gone monday to thursday, parents can rent their vacant room just for those 4 days which will help pay their own child's rent away from home. everyone wins,:) But actually if you rent out two rooms for 100 euro per week each that amounts to 10400 per year


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    #6
    xr2central
    Registered Users Posts: 52 ✭✭xr2central


    Just to clarify, the following is from taxation.ie;)

    Where a room in a persons’ principle private residence is let as residential accommodation and the gross annual rental income is less than €10,000 per annum this rental income is exempt from tax. Where it exceeds €10,000 the rent is taxable in full.
    Qualifying room rentals will not affect entitlements to claim mortgage interest relief. It will also not effect CGT relief on Principle Private Residence on the disposal of the dwelling, and will not lead to a stamp duty claw-back. The relief will not apply where the letting is between connected parties and rent relief is being claimed.


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    #7
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,278 Mod ✭✭✭✭The_Conductor


    xr2central wrote: »
    Just to clarify, the following is from taxation.ie;)

    Where a room in a persons’ principle private residence is let as residential accommodation and the gross annual rental income is less than €10,000 per annum this rental income is exempt from tax. Where it exceeds €10,000 the rent is taxable in full.
    Qualifying room rentals will not affect entitlements to claim mortgage interest relief. It will also not effect CGT relief on Principle Private Residence on the disposal of the dwelling, and will not lead to a stamp duty claw-back. The relief will not apply where the letting is between connected parties and rent relief is being claimed.

    Don't be such a smart ass.

    The Revenue Commissioner's website here states:
    Where a room (or rooms) in a person’s sole or main residence is (are) let as residential accommodation, gross annual rental income, together with any sums received for the provision of meals or other services supplied in connection with the letting, may be exempt from income tax where the aggregate amount received in the year of assessment does not exceed the annual limit ( €10,000 for 2010 & 2011)

    The rent-a-room scheme is a relief granted to home owners- and is based on the gross income derived from the letting of a room (or rooms). If you charge the person a share of heating/electricity/internet/NTL/Sky or literally anything else at all- all of these go towards the gross- it is not simply the headline 'rent' that you're charging for the room.

    Further- it is proposed to phase out this relief by 2017.

    Regards,

    SMcCarrick


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    #8
    xr2central
    Registered Users Posts: 52 ✭✭xr2central


    smccarrick wrote: »
    Don't be such a smart ass.

    The Revenue Commissioner's website here states:



    The rent-a-room scheme is a relief granted to home owners- and is based on the gross income derived from the letting of a room (or rooms). If you charge the person a share of heating/electricity/internet/NTL/Sky or literally anything else at all- all of these go towards the gross- it is not simply the headline 'rent' that you're charging for the room.

    Further- it is proposed to phase out this relief by 2017.

    Regards,

    SMcCarrick

    I am not trying to be a smart ass, there are more than enough here already it would seem, look all this nit picking is getting nowhere the rent a room scheme is very simple a home owner is allowed to receive an income of up to 10k from lodgers be that for rent, cornflakes, electricity, gas whatever, that is all pretty much irrelevant. as i said before the beauty of it is the flexibility therefore if the homeowner decides to declare every cent they receive and they are lucky enough to be getting close to the 10k mark before the end of the year they then can stop renting their room, it is after all their own property. 2017 is along time away and they may not phase it out, nothing written in stone. If anyone has any positive input or any genuine questions or inquiries go on to http://www.getdigs.ie/ , Its such a pity when a new business is trying to get up and running that so many people are so negative and begrudging towards it, in times of recession people should get behind new business and schemes like this.:)


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    #9
    pooch90
    Registered Users Posts: 2,369 ✭✭✭pooch90


    xr2central wrote: »
    Its such a pity when a new business is trying to get up and running that so many people are so negative and begrudging towards it, in times of recession people should get behind new business and schemes like this.:)

    I think the reason you're hitting the wall of negativity is purely because you're trying to use a discussion board as a form of free advertising.
    If you want to publicise it and get no grief, place and ad and pay for it.


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    #10
    zuroph
    Registered Users Posts: 11,097 ✭✭✭✭zuroph


    xr2central wrote: »
    I am not trying to be a smart ass, there are more than enough here already it would seem, .............. Its such a pity when a new business is trying to get up and running that so many people are so negative and begrudging towards it, in times of recession people should get behind new business and schemes like this.:)

    I would, but your behaviour here has been pretty pathetic. instantly on the childish defensive instead of professionally dealing with the feedback.


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    #11
    xr2central
    Registered Users Posts: 52 ✭✭xr2central


    pooch90 wrote: »
    I think the reason you're hitting the wall of negativity is purely because you're trying to use a discussion board as a form of free advertising.
    If you want to publicise it and get no grief, place and ad and pay for it.
    Another one, for gods sake nobody is forcing you to read it, I actually put it up in the accommodation section because it is a cheap, easy and flexible way of finding accommodation. If I did anything wrong the mods have my full permission to remove the thread. I just think there is a lot of negativity towards anyone that tries to progress not just on this forum but in Ireland in general, this is not going to get us out of a slump! :confused:


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    #12
    xr2central
    Registered Users Posts: 52 ✭✭xr2central


    zuroph wrote: »
    I would, but your behaviour here has been pretty pathetic. instantly on the childish defensive instead of professionally dealing with the feedback.
    Can I just clarify I don't own getdigs.ie, I simply think it is a good idea. I am far from being defensive, just trying to clarify my point. And furthermore Shane mc Carrick the moderator is the only one to use a derogatory comment towards another member, so who is being childish???


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    #13
    tHE vAGGABOND
    Registered Users Posts: 6,686 ✭✭✭tHE vAGGABOND


    Further- it is proposed to phase out this relief by 2017.
    I think this relief is paying "a lot" of mortgages. I can see this one getting extended, or at worst only watered down, not taken away full stop...


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    #14
    xr2central
    Registered Users Posts: 52 ✭✭xr2central


    tHE vAGGABOND wrote: »
    I think this relief is paying "a lot" of mortgages. I can see this one getting extended, or at worst only watered down, not taken away full stop...

    Hopefully, it is a good scheme.


This discussion has been closed.
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