Irish Rental Income

On due basis, not received. 

Allowable deduction:

  • Ground rent
  • Rates
  • Maintenance
  • General repairs
  • RTB registration fee
  • Management/letting fee
  • Service charge
  • Advertising fees
  • Accountant fees
  • Mortgage protection
  • Pre-letting expenses and vacant properties
  • Wear and tear  - 12.5% per year over 8 years, based on furniture and fitting cost
  • Interest on loan to purchase, improve, repair residential premises (RTB must be paid)
Disallowed:
  • Pre-letting expenses before first rent out
  • Post-letting expenses
  • Capital expenses on property improvement
  • Interest before first rent out
  • LPT
  • Landowner's own labor

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