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Possible Tax rebate on rent for first time buyers

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  • 08-01-2006 2:40pm
    #1
    TinCool
    Registered Users Posts: 2,894 ✭✭✭


    A friend of mine told me that a friend of his managed to receive a tax rebate on rent that he was informally paying his parents for the couple of years prior to him moving out and buying his own place as a first time buyer. I am also in this position. Apparently, Eddie Hobbs uncovered this tax rebate.

    Does anyone have any clue what I'm talking about and if so is there some form that needs to be filled out to try to claim a tax rebate on this kind of rent ?

    Cheers,
    TC


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    #2
    Reaver772
    Closed Accounts Posts: 261 ✭✭Reaver772


    This might be usefull

    http://oasis.gov.ie/housing/renting_a_flat_or_house/tax_relief_for_tenants.html


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    #3
    Lex Luthor
    Registered Users Posts: 11,220 ✭✭✭✭Lex Luthor


    TinCool wrote:
    A friend of mine told me that a friend of his managed to receive a tax rebate on rent that he was informally paying his parents for the couple of years prior to him moving out and buying his own place as a first time buyer. I am also in this position. Apparently, Eddie Hobbs uncovered this tax rebate.

    Does anyone have any clue what I'm talking about and if so is there some form that needs to be filled out to try to claim a tax rebate on this kind of rent ?

    Cheers,
    TC
    Just make sure you don't sell your parents.....shouldn't they be declaring the rent you paid them as rental income?
    Eddie Hobbs didn't uncover it....most people I know in rented accomodation know about this...its been around for years.


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    #4
    Squor
    Closed Accounts Posts: 35 ✭Squor


    Yeah you can claim it. The revenue act does not say anything about parent to child relationship differing from landlord to tenant so its allowable. Be careful though because if you have siblings and they claim it and all the rent your paying the parents goes over a certain ammount, I think €7000, then it becomes taxable. The law is if you rent a room in your home you can earn money up to that ammount without it being taxed


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