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Rent Query

Auvers · 2009-02-08 18:02:02

Anybody know the rough amount I would have to pay in tax if I rented a house out for 650 eur a month for a year?

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08-02-2009 7:02pm

#1

Auvers

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Anybody know the rough amount I would have to pay in tax if I rented a house out for 650 eur a month for a year?

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#2 08-02-2009 7:05pm
tba

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its complicated you can claim for expenses too, some info for you.

http://209.85.129.132/search?q=cache:jWoc-rxKcAMJ:www.revenue.ie/en/tax/it/leaflets/it70.pdf

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#3 09-02-2009 2:43pm
pigeonbutler

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Assuming that you earn enough to pay tax at the top rate and don't have any deductible expenses you could be look at €3,198 in income tax (41%), about €150 in health levy (assuming you're over the PRSI threshold) and an additional 1, 2 or 3% income levy depending on your total income.

As the first reply said, it's complicated and depends on a lot of factors. If you live in the house it would be totally exempt under the rent-a-room scheme.

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