All,
Does anyone know what the tax treatment is where we are renting our PPR and my husband is working abroad?
We are just about to rent our house for the first time. I will be notifying revenue and asking them to remove our interest relief, registering with PRTB etc.
My husband will soon be working abroad in a country that does not have a double taxation agreement with Ireland so he will be receiving a tax-free salary.
I have two questions:
Where a landlord is non-resident, the tenant is supposed to withhold 20% of the rent payment. What is the situation where one of the joint owners is non-resident? Can I be the landlord solely although the property is owned by both of us and as such this clause will not apply?
What is the situation on tax treatment of the portion of the rent that applies to my husband? As he will be receiving an income that is not from an area that has a double taxation agreement with Ireland, does this income count to decide if we will be paying income tax at the lower or higher rate on his portion of the rental income?
TIA
Nutso
Does anyone know what the tax treatment is where we are renting our PPR and my husband is working abroad?
We are just about to rent our house for the first time. I will be notifying revenue and asking them to remove our interest relief, registering with PRTB etc.
My husband will soon be working abroad in a country that does not have a double taxation agreement with Ireland so he will be receiving a tax-free salary.
I have two questions:
Where a landlord is non-resident, the tenant is supposed to withhold 20% of the rent payment. What is the situation where one of the joint owners is non-resident? Can I be the landlord solely although the property is owned by both of us and as such this clause will not apply?
What is the situation on tax treatment of the portion of the rent that applies to my husband? As he will be receiving an income that is not from an area that has a double taxation agreement with Ireland, does this income count to decide if we will be paying income tax at the lower or higher rate on his portion of the rental income?
TIA
Nutso