I inherited a house from my grandparents in 2010, I don’t live in this house. Its potential rental value is €500 per month.
Since 2010 I let my brother and his wife live there rent free which I’m entitled to do under Section 40 free use of property.
For this reason I don’t register with PRTB and I don't do income tax return for this property. I pay the nppr and property tax.
They are moving out soon and then I will rent out this house for the first time, register with PRTB and do income tax returns.
Can revenue have any issue with me allowing family members use this house rent free ?
Since 2010 I let my brother and his wife live there rent free which I’m entitled to do under Section 40 free use of property.
For this reason I don’t register with PRTB and I don't do income tax return for this property. I pay the nppr and property tax.
They are moving out soon and then I will rent out this house for the first time, register with PRTB and do income tax returns.
Can revenue have any issue with me allowing family members use this house rent free ?