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Airbnb Hosts and tax

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    #62
    Victor
    Registered Users Posts: 78,422 ✭✭✭✭Victor


    As I understand it, self employment up to €2,000-3,000 doesn't attract income tax. However, Airbnb is likely to be seen as rental income, not self-employment.


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    #63
    shortys94
    Registered Users Posts: 2,401 ✭✭✭shortys94


    Hmmm ok, because I live overseas and my AIRBNB is in Ireland...

    Friends are in Ireland, made me think about mine and what story was

    What's the tax rate?


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    #64
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    shortys94 wrote: »
    Hmmm ok, because I live overseas and my AIRBNB is in Ireland...

    What's the tax rate?

    Www.revenue.ie has all the info


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    #65
    shortys94
    Registered Users Posts: 2,401 ✭✭✭shortys94


    I live in the Netherlands, but operate the airbnb which my parents host in Ireland, which is on their property so they live there. How does this work, because I keep the earnings as I am in college over here in Amsterdam so it supports me until I finish studies in a month or so.....

    Do I call revenue and ask for rent a room scheme? or is this a dutch related taxable income now? Never even knew it was taxable tbh

    Earn a few grand, nothing like 12k a year


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    #66
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    shortys94 wrote: »
    I live in the Netherlands, but operate the airbnb which my parents host in Ireland, which is on their property so they live there. How does this work, because I keep the earnings as I am in college over here in Amsterdam so it supports me until I finish studies in a month or so.....

    Do I call revenue and ask for rent a room scheme? or is this a dutch related taxable income now? Never even knew it was taxable tbh

    Earn a few grand, nothing like 12k a year

    It's your parent's property so they earn the income and owe the tax. Since you are collecting the money, if it goes above €3000 a year they also owe gift tax.


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    #67
    shortys94
    Registered Users Posts: 2,401 ✭✭✭shortys94


    Ok but it comes under rent a room scheme, so not above 12k threshold hence not taxable right?


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    #68
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    shortys94 wrote: »
    I live in the Netherlands, but operate the airbnb which my parents host in Ireland, which is on their property so they live there. How does this work, because I keep the earnings as I am in college over here in Amsterdam so it supports me until I finish studies in a month or so.....

    Do I call revenue and ask for rent a room scheme? or is this a dutch related taxable income now? Never even knew it was taxable tbh

    Earn a few grand, nothing like 12k a year

    Its a little complicated in your case-

    1. Any income from the airbnb would have to be declared as income by your parents (even if there is no tax due on it).
    2. They can gift you the proceeds- without any Irish tax implications
    3. Airbnb- is not necessarily tax free income- and you can not necessarily claim it under the rent-a-room scheme (as its for a duration of less than 3 months)- your parents need to confirm this- and check whether, or not, there are any tax implications (as there very well may be).


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    #69
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    shortys94 wrote: »
    Ok but it comes under rent a room scheme, so not above 12k threshold hence not taxable right?

    Revenue have already clearly stated that AirBnB does not qualify under the rules for rent a room, the income is taxable as with standard rentals.


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    #70
    shortys94
    Registered Users Posts: 2,401 ✭✭✭shortys94


    The_Conductor wrote: »
    Its a little complicated in your case-

    1. Any income from the airbnb would have to be declared as income by your parents (even if there is no tax due on it).
    2. They can gift you the proceeds- without any Irish tax implications
    3. Airbnb- is not necessarily tax free income- and you can not necessarily claim it under the rent-a-room scheme (as its for a duration of less than 3 months)- your parents need to confirm this- and check whether, or not, there are any tax implications (as there very well may be).


    Parfait,

    cheers!


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    #71
    nompere
    Registered Users Posts: 1,678 ✭✭✭nompere


    Victor wrote: »
    As I understand it, self employment up to €2,000-3,000 doesn't attract income tax. However, Airbnb is likely to be seen as rental income, not self-employment.

    That understanding, as has been pointed out in your thread in the Taxation forum, is wrong.

    For self-assessment tax purposes rental income is treated the same as any other non-PAYE income.

    So if the rental income is below €3174 then the income goes into a form 12, otherwise it's a Form 11 together with the associated preliminary tax obligations.


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    #72
    yoshx
    Closed Accounts Posts: 156 ✭✭yoshx


    Hey Airbnb Pros !

    I have a friend who has this Airbnb , he is renting a room in the City and he asked me to find out about how the tax works for him.
    He told me he has been using airbnb for 2 years , generated around 1500 in total but while he was away ,so he is wondering since he has a part time job and he has not exceeded the 33.800 income rate ,does he need to bother with any of this ?


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    #73
    newacc2015
    Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    yoshx wrote: »
    Hey Airbnb Pros !

    I have a friend who has this Airbnb , he is renting a room in the City and he asked me to find out about how the tax works for him.
    He told me he has been using airbnb for 2 years , generated around 1500 in total but while he was away ,so he is wondering since he has a part time job and he has not exceeded the 33.800 income rate ,does he need to bother with any of this ?

    Every now and again Airbnb hands over a massive folder with a list of names and the amount of money they have received from Airbnb. He still needs to file a tax return as he is classified as an Irish resident. Revenue may help if he files now rather than wait until the rush around halloween.


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    #74
    twiga
    Registered Users Posts: 47 ✭twiga


    newacc2015 wrote: »
    Every now and again Airbnb hands over a massive folder with a list of names and the amount of money they have received from Airbnb. He still needs to file a tax return as he is classified as an Irish resident. Revenue may help if he files now rather than wait until the rush around halloween.

    Regarding this, my question is, if the person receiving all the income is not myself (who set up the AirBnB account), but actually someone else, I assume when they report it to revenue they do so with the bank account it was deposited in, and the name linked to that, not my name? It isn't clear on their website, but I don't want to pay tax for what they are receiving.


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    #75
    Mathilde1203
    Registered Users Posts: 1 ✭Mathilde1203


    Hey, I know I'm a bit late to all this but need some advice.
    When I was doing airbnb back in 2015, I was a student with no other job and no income at all. I earned a bit less than €4,000 during that year. If I declare now my taxes for that year, will it be taken in account that I was a student with no income? (not even a scholarship or anything)
    Should I even declare it?
    Thanks


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    #76
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,079 Mod ✭✭✭✭AlmightyCushion


    Mathilde1203 wrote: »
    Hey, I know I'm a bit late to all this but need some advice.
    When I was doing airbnb back in 2015, I was a student with no other job and no income at all. I earned a bit less than €4,000 during that year. If I declare now my taxes for that year, will it be taken in account that I was a student with no income? (not even a scholarship or anything)
    Should I even declare it?
    Thanks

    You legally have to declare it but you'd pay fúck all if anything on it. You might owe a few quid USC but that would be about it. Yes, they'll take into account that you had no income for that year.


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    #77
    loyatemu
    Registered Users Posts: 14,946 ✭✭✭✭loyatemu


    AlmightyCushion wrote: »
    You legally have to declare it but you'd pay fúck all if anything on it. You might owe a few quid USC but that would be about it. Yes, they'll take into account that you had no income for that year.

    if you earned less than 12K in 2015 you're exempt from USC

    If you had no other income, you'll pay 20% tax on it, but you're also entitled to the personal tax credit which is €1650, so your liability will be zero:

    4000 * 20% = 800
    800 - 1650 = 0

    Not sure I'd bother with the tax return if you know you have no liability.


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    #78
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,079 Mod ✭✭✭✭AlmightyCushion


    loyatemu wrote: »
    if you earned less than 12K in 2015 you're exempt from USC

    If you had no other income, you'll pay 20% tax on it, but you're also entitled to the personal tax credit which is €1650, so your liability will be zero:

    4000 * 20% = 800
    800 - 1650 = 0

    Not sure I'd bother with the tax return if you know you have no liability.

    My bad. I thought there was a really low percentage of USC on even very small amounts of income.


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