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TRS changes

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  • 17-12-2013 7:48pm
    #1
    doulikeit
    Registered Users Posts: 152 ✭✭


    hi, just got a letter from my mortgage provider telling me from the 31 December 2013 that trs granted is based on interest paid by me rather than interest charged by bank ? What does this mean, better off or worse off


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    #2
    clarkey1980
    Registered Users Posts: 73 ✭✭clarkey1980


    doulikeit wrote: »
    hi, just got a letter from my mortgage provider telling me from the 31 December 2013 that trs granted is based on interest paid by me rather than interest charged by bank ? What does this mean, better off or worse off

    If you are paying your mortgage in full or at least the interest element then it will have no effect on you. Up until now Revenue were allowing TRS on the interest charged by the mortgage provider. From 01.01.14 Revenue have decided only to allow TRS on the actual amount of interest paid by the borrower. If you are making no payments on your mortgage you will receive no TRS from Revenue


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    #3
    doulikeit
    Registered Users Posts: 152 ✭✭doulikeit


    Cheers clarkey problem solved


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