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Rent tax relief

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  • 06-01-2011 7:21am
    #1
    aN.Droid
    Closed Accounts Posts: 1,911 ✭✭✭


    Hey

    Sorry if my post sounds stupid but this is my first time renting :D

    I was reading a few threads here and came across that you can claim tax back from renting, I googled it but didn't get much information.

    How does this work, If I send the form in do I get a cheque for the tax I paid or is it further tax relief at the job or what? If you can get tax relief why bother having a tax in the first place?

    I'm paying 250 a month so for the year it would be 3 grand, how much can I claim back out of this?

    Again sorry if my post sounds a little green but like I said this is my first time posting! Thanks!


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    #2
    youcancallmeal
    Registered Users Posts: 8,019 ✭✭✭youcancallmeal


    As far as I'm aware it has been done away with in the latest budget but people who were renting before the budget can still claim for up to 8 years on a decreasing scale.


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    #3
    aN.Droid
    Closed Accounts Posts: 1,911 ✭✭✭aN.Droid


    I have been renting since September so lucky me I'm good for now :)

    How does it work though? If they offer tax back why bother charging tax in the first place?


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    #4
    kippy
    Registered Users Posts: 18,583 ✭✭✭✭kippy


    Limericks wrote: »
    I have been renting since September so lucky me I'm good for now :)

    How does it work though? If they offer tax back why bother charging tax in the first place?

    See here for detail:
    http://www.citizensinformation.ie/en/housing/renting_a_home/tax_relief_for_tenants.html


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    #5
    aN.Droid
    Closed Accounts Posts: 1,911 ✭✭✭aN.Droid


    kippy wrote: »
    See here for detail:
    http://www.citizensinformation.ie/en/housing/renting_a_home/tax_relief_for_tenants.html

    Thank you very much, surprised google didn't show me this!


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    #6
    kippy
    Registered Users Posts: 18,583 ✭✭✭✭kippy


    Limericks wrote: »
    Thank you very much, surprised google didn't show me this!

    Citizensinformation.ie is a fairly good side for any of that kinda thing.


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    #7
    Cookie_Monster
    Registered Users Posts: 24,499 ✭✭✭✭Cookie_Monster


    250 * 4 (sept-Dec) = 1000, you get a credit of 200 quid for last year. 20% of rent paid up to a max of 400

    the max last year was 400 quid, down to 320 this year. Easy to do online with PAYE online.


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    #8
    Cheapo
    Registered Users Posts: 149 ✭✭Cheapo


    Just to follow on this, if you were living at home and paying rent to your parents can you still claim this?


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    #9
    kippy
    Registered Users Posts: 18,583 ✭✭✭✭kippy


    Cheapo wrote: »
    Just to follow on this, if you were living at home and paying rent to your parents can you still claim this?

    You probably could but you could be opening up a whole different can of worms for your parents (depending on numerous variables).


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