Advertisement
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

Working out what your TRS should be?

Options
  • 02-07-2012 3:08pm
    #1
    NIMAN
    Registered Users Posts: 33,607 ✭✭✭✭


    Could someone tell me how TRS on your mortgage payments is actually worked out? Is there a formula that you can use, or does it change with different circumstances?

    (Apologies if in wrong forum, had a search and couldn't see one to suit the question better).


Comments

  • Options
    #2
    thewing
    Registered Users Posts: 661 ✭✭✭thewing


    http://www.mortgages.ie/index.cfm/spKey/first_time_buyers.tax_relief_calculator.html


  • Options
    #3
    NIMAN
    Registered Users Posts: 33,607 ✭✭✭✭NIMAN


    That calculator suggest getting about 3.6% of the monthly payment in relief.

    But mine works out more like 6%.

    :confused:

    Ah well, shouldn't complain I suppose.


  • Options
    #4
    Jonathan222
    Registered Users Posts: 91 ✭✭Jonathan222


    New to this so hopefully I have posted to the correct forum.

    I bought a house in 2005 and claimed TRS on this property until 2009 when I bought a second home and rented out the first one. I stopped claiming TRS on the first home in 2009 as it was not my principal residence and never got around to claiming it on the new house (as a second time buyer) so I'm just wondering can I claim TRS from 2009 on the second home up until now?

    Thanks


  • Options
    #5
    the groutch
    Closed Accounts Posts: 16,096 ✭✭✭✭the groutch


    no need to spam multiple forums with the same question.

    lots of info here: http://www.citizensinformation.ie/en/housing/owning_a_home/buying_a_home/mortgage_interest_relief.html


  • Options
    #6
    Jonathan222
    Registered Users Posts: 91 ✭✭Jonathan222


    Cheers, not sure which to post to as some of them look very old. Cheers for that but does not really answer if I can get it back valued.


  • Advertisement
  • Options
    #7
    the groutch
    Closed Accounts Posts: 16,096 ✭✭✭✭the groutch


    Jonathan222 wrote: »
    Cheers, not sure which to post to as some of them look very old. Cheers for that but does not really answer if I can get it back valued.

    you can, but not sure if it's 3 years or 5 years, there's a section in the TRS form to fill in interest payments of previous years.


Advertisement