T
teelin
Guest
If you have no Mortgage oustanding on your PPR and you release equity on your PPR to buy an investment property (at home or abroad) then it's my understanding that you are allowed to offset the interest of the mortgage used to purchase the investment property against the rental income received from the investment property when calculating your Irish tax liability for the year.
This is because it's the purpose of the loan that is decides whether
interest on borrowings can be deducted, not the equity .
For tax purpses, what proof, if any, is required to confirm the purpose of the loan?
This is because it's the purpose of the loan that is decides whether
interest on borrowings can be deducted, not the equity .
For tax purpses, what proof, if any, is required to confirm the purpose of the loan?