If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

tax on rental income

Sham Squire · 2007-02-07 11:47:19

What could you expect to pay in tax as a landlord charging €700 per month on an apartment?

Options

07-02-2007 12:47pm

#1

Sham Squire

Registered Users Posts: 501 ✭✭✭

Join Date: November 2005

Posts: 411

What could you expect to pay in tax as a landlord charging €700 per month on an apartment?

0

Comments

Options
#2 07-02-2007 1:28pm
gibo_ie

Registered Users Posts: 782 ✭✭✭

Join Date: December 2003

Posts: 688

it all depends on what other taxes you have. Basically as a landlord you can write off costs involved in renting, e.g. cost of furniture depreciated over 8 years. Managing costs, PRTB registrations, costs to fix damages etc...
In the long run it all evens out and you should end up paying no or very little tax on rental incomes. (bring on the noise...)
See an accountant and they will sort it all out for you quite cheaply.
M

0
Options
#3 07-02-2007 11:53pm
foxy06

Registered Users Posts: 2,138 ✭✭✭

Join Date: July 2006

Posts: 1868

I dont think you can take depreciation into account when computating your income tax. AFAIK it's not an allowable deduction.

0
Options
#4 08-02-2007 2:51am
antoinolachtnai

Registered Users Posts: 9,787 ✭✭✭

Join Date: January 2003

Posts: 9697

it's not depreciation, it's a capital allowance, which is almost the same, but not quite.

0
Options
#5 08-02-2007 1:42pm
Sham Squire

Registered Users Posts: 501 ✭✭✭

Join Date: November 2005

Posts: 411

Nice one for the info, that all seems to make sense.

0