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Rent property to child

Hailo2014 · 2014-07-26 12:54:35

Hi hoping someone can help me out - we are in a position to purchase a property which we intend to rent to our child and his partner - we already have a rental property on which we declare our income to revenue and pay tax, however we are hoping not to declare the rental income for the new property, and hence be able to…

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26-07-2014 1:54pm

#1

Hailo2014

Closed Accounts Posts: 1 ✭

Join Date: July 2014

Posts: 0

Hi hoping someone can help me out - we are in a position to purchase a property which we intend to rent to our child and his partner - we already have a rental property on which we declare our income to revenue and pay tax, however we are hoping not to declare the rental income for the new property, and hence be able to charge our child a much lower rent - do you think we would get caught out but the Revenue, or could we always justify and say that we have a house each (being a married couple!)

Appreciate any comments!!

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#2 26-07-2014 1:58pm
The_Morrigan

Registered Users Posts: 9,368 ✭✭✭

Join Date: January 2010

Posts: 8655

Yeah you can't ask advice on tax evasion here.

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