Hi all,
I am enquiring about Carer’s Allowance and in particular the following
Capital income – this includes savings, investments, shares or any property you have (but not your own home). The first €50,000 of your capital is not taken into account. Find out more about capital not included in the means test.
If you had a property that was not occupied or rented out, coupled with the fact that you resided in a different principal property, are you deemed ineligible for the Carer’s Allowance?
I’ve found the below, but I am still not certain on the meaning etc.
The home in which you live is not included in the assessment of your means from capital (see above). If you own a house which is let, you are assessed on the capital value of the property. You will not be assessed on the income from the letting. Any outstanding mortgage registered against the property is deducted from the market value to find the capital value.
However, if the mortgage on the home in which you live has been re-structured to raise capital to buy the second property, this re-structured mortgage will not be deducted from the capital assessment of the second property.
For all second homes the property must be capable of being sold, let or put to profitable use before a capital value assessment is applied.
I am enquiring about Carer’s Allowance and in particular the following
Capital income – this includes savings, investments, shares or any property you have (but not your own home). The first €50,000 of your capital is not taken into account. Find out more about capital not included in the means test.
If you had a property that was not occupied or rented out, coupled with the fact that you resided in a different principal property, are you deemed ineligible for the Carer’s Allowance?
I’ve found the below, but I am still not certain on the meaning etc.
The home in which you live is not included in the assessment of your means from capital (see above). If you own a house which is let, you are assessed on the capital value of the property. You will not be assessed on the income from the letting. Any outstanding mortgage registered against the property is deducted from the market value to find the capital value.
However, if the mortgage on the home in which you live has been re-structured to raise capital to buy the second property, this re-structured mortgage will not be deducted from the capital assessment of the second property.
For all second homes the property must be capable of being sold, let or put to profitable use before a capital value assessment is applied.