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Tax on Income from Rented House

randombar · 2016-06-22 16:24:14

Hi All, Trying to help out the mother on her tax bill on a rental property she has. So far the following can be written off against the rental income: * Allowable Interest * Repairs * Insurance * Bank Account Maintenance * Property Tax * PRTB * Life Assurance * Plumber - Boiler Service * Garden Maintenance * Annual…

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#32 25-06-2016 4:01pm
Hollister11

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Save yourself the hassle and get the professional advice of an accountant.

The cost is tax deductible.

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#33 28-06-2016 9:55pm
dreamerb

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Several people have said depreciation is not allowable, but Revenue says wear and tear at the rate of 12.5% per year over 8 years on furniture is allowable as deductible expenditure.

See http://www.revenue.ie/en/tax/it/rental-income.html

Second the recommendation for professional advice anyway.

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#34 28-06-2016 10:17pm
athtrasna

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Bottom line is professional advice is money well spent. Seems a pretty unanimous consensus OP so thread has run its course.

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