Tax Relief at Source

[St. Bernard]

Hi All

Was wondering if anyone could tell me how much per month TRS i should be getting. We bought as first time buyers in 2006 with a 100% mortgage.

Mortgage was 310K

OS 286K

Term 30 years

Rate ECB + 1.1%


Cheers
SB

 

[ClubMan]

You should be able to work it out from the info here, your annual mortgage/interest statements to date and your ongoing interest payments.

http://www.revenue.ie/en/tax/it/leaflets/tax-relief-source-mortgage-interest-relief.html
http://www.revenue.ie/en/tax/it/reliefs/tax-relief-source-mortgage-rates.html

If you don't know your ongoing interest payments or estimated annual bill for 2011 then ask your lender or use this calculator to estimate them:

http://www.drcalculator.com/mortgage/ie/

Hope this helps.

 

[Gcsm9]

Does anyone know the latest on this actually? Is the plan still to remove it altogether from Jan 1st 2012 or just to reduce it to 15% right from year 1?

 

[ClubMan]

Any use (from the first link that I posted above)?

Mortgages taken out from 1st January 2012 to 31st December 2012 will be entitled to mortgage interest relief at the reduced rates of 15% for first time buyers and 10% for non first time buyers, on the first €3,000 interest paid per individual.

Mortgages taken out after 31st December 2012 will not qualify for mortgage interest relief.

Update: some further info that may be of use (see under "further information")

http://www.citizensinformation.ie/e...g_a_home/mortgage_interest_relief.html#l23f7d