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Mortgage & Tax relief

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  • 27-06-2006 2:15pm
    #1
    ToxicPaddy
    Moderators, Business & Finance Moderators, Society & Culture Moderators Posts: 9,763 Mod ✭✭✭✭


    Is it possible to claim both?

    I have just bought a house, however its down the country and I'll be in the house 2-3 nights a week. However I'm also renting in Dublin.

    At the moment I have tax relief on my income for rent. Can I continue to claim this and claim mortgage tax relief???

    Tox


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    #2
    conor_mc
    Registered Users Posts: 699 ✭✭✭conor_mc


    Mortgage interest relief is only available on your PPR - Principal Private Residence. If you're only living in it 2/3 nights out of seven, I can't see how it would qualify as your primary residence, especially if you're also claiming rent allowance.


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    #3
    antoinolachtnai
    Registered Users Posts: 9,787 ✭✭✭antoinolachtnai


    It is not true that MIR is only available on your PPR.

    On the face of it, I cannot see how living in Dublin weeknights in rented accommodation would prejudice your country seat being treated as your PPR. Loads of people do this in practice and I cannot see it being an issue.

    I would think you would be pushing your luck to claim the two allowances. I think they would say that the allowance for rent is only available on the property that is your principal residence. But I don't know for sure.


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    #4
    kluivert
    Registered Users Posts: 2,399 ✭✭✭kluivert


    Claiming both is not going to happen.

    Claim the MIR instead. Save yourself in cashflow.


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