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Can I claim tax back if renting house and have apartment rented?

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  • 27-08-2014 9:38pm
    #1
    bob5666
    Registered Users Posts: 202 ✭✭


    If I have apartment rented out say 100 week and am paying rent for a house say 100 week do I have to pay tax on apartment rent that I get
    Can I off set it against the rent I am paying as a cost ?


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    #2
    Nino Brown
    Closed Accounts Posts: 1,507 ✭✭✭Nino Brown


    bob5666 wrote: »
    If I have apartment rented out say 100 week and am paying rent for a house say 100 week do I have to pay tax on apartment rent that I get
    Can I off set it against the rent I am paying as a cost ?

    I looked into this before and I'm pretty sure the answer was no, you have to pay the tax on your rental income regardless.


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    #3
    The_Morrigan
    Registered Users Posts: 9,368 ✭✭✭The_Morrigan


    bob5666 wrote: »
    If I have apartment rented out say 100 week and am paying rent for a house say 100 week do I have to pay tax on apartment rent that I get
    Can I off set it against the rent I am paying as a cost ?

    Please engage the services of a professional if you are unsure of your tax obligations


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    #4
    sunnysoutheast
    Registered Users Posts: 2,072 ✭✭✭sunnysoutheast


    bob5666 wrote: »
    If I have apartment rented out say 100 week and am paying rent for a house say 100 week do I have to pay tax on apartment rent that I get
    Can I off set it against the rent I am paying as a cost ?

    Yes, you have to pay income tax, PRSI and USC on your rental income, at the marginal rate.

    No, you cannot claim the rent you pay on another property as an expense, it is irrelevant.

    The two are unconnected.


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    #5
    bmwguy
    Closed Accounts Posts: 2,006 ✭✭✭bmwguy


    Only expenses against the property you are renting out can be claimed as tax relief, such as maintenance, estate agent fees etc....go on to revenue.ie and you'll get a full list. As already stated, renting another property is deemed irrelevent and not applicable.


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