tax

  1. T

    House transfer to spouse (from Mother-in-law) & CAT

    Hello, I know this question has probably been asked before. (I did a search but couldn't find anything). My Mother-in-law is transferring her home to my wife and will this house will be in my wife's name only. It is then our intention for our family to live in this home as our PPR with the...
  2. I

    Tax on Rent (no mortgage)

    Morning All, At a high level, I have an investment property (no mortgage). I am looking at giving it to the council on a 10 year lease. Gross rent 12k per annum. Rough calc on tax is 50%. Net rent is €6k. Is there any options for reducing my tax liability? I can't obviously offset any...
  3. P

    How much after tax is a rental property worth to a landlord?

    Hi all, I'm trying to get my head around this and maybe a landlord can clarify if they are in a similar position. If I decide to buy a property (mortgaged or cash) and rent it out for €1400 per month, I know that I can claim depreciation on furniture and management fees, property...
  4. C

    Implications of "joint option to tax" sale of commercial building

    There’s a commercial building for sale on a main street in a town down the country that requires substantial refurbishment. It has retail units on the ground floor and some living space overhead. The sale is listed as a “joint option to tax” which means the purchaser will have to pay VAT. What...
  5. M

    Should I switch to 1 week/ 1 month basis?

    I am a permanent, full time employee and receive a monthly salary. I have been in my current employment for almost a year, and have been working from home since mid March last. We have been assured by our employers that we are still quite busy and should remain working full time for the time...
  6. D

    Tax Reduction Opportunities!

    We pay circa €50k in tax annually (Jointly assessed) - Both PAYE +rental property PAYE - 36k USC - 8k PRSI - 7k Are there any legal tax reduction schemes outside of the below obvious ones. - Pension contributions - Credits/ Health expenses Any advice and guidance appreciated. Thanks!
  7. D

    Short term rental property (trade) - Tax advice

    I have a short term rental property (with appropriate STL planning) - Bought in August 2019, renovated and First let in Dec 2019 (primarily Airbnb) I have read Revenue Part 04-01-20 on Short term letting...
  8. tax_moron

    Tax on Sale of Shares, and Dividend Income - Companies Outside of Ireland (not ETFs)

    This is not in relation to ETFs. As I understand it, profit from selling of shares, and dividend income from ETFs is taxed at 41%. I'm looking into tax advantages (if any) from moving away from ETFs and into manually trading individual companies. I'm trying to find information on the tax I am...
  9. khalidfarhan

    How should I disclose this need to take salary from Bangladesh business?

    Hey guys, Kind of in a unique situation here and would appreciate the advise. I am living in Ireland for about 3 years now, arrived back in 2017 to do my MSc and have been working full time since finishing that. I pay the usual PAYE tax. I also have a business back at home (Bangladesh) that I...
  10. M

    My company made a donation to a foreign charity, but Revenue wants to treat it as salary

    Two years ago a company I own made a donation to a charity that is not on Revenue's approved charity list. When we sent in the company tax return we declared the donation and paid corporation tax on it. The tax man is back and says I should have paid income tax on the donation as it was my...
  11. H

    Rent and taxation

    Hi everyone, we currently own and live in an apartment and we are buying a house that needs some renovation. Nothing too major: wiring, some plumbing, renew one of the bathrooms, and damp in treatment in the basement. Few weeks worth of work. The house will be our main residence and we plan to...
  12. S

    Advise to invest in ETFs

    Age: 35 Spouse’s/Partner's age: 30 Annual gross income from employment or profession: 52K Annual gross income of spouse: 0 Monthly take-home pay 3.2K Type of employment: Researcher, contract In general are you: I am saving 1K per month Not bought any house, so no...
  13. K

    Local Property Tax apportionment

    Hi, How do you calculate the LPT apportionment? I mean what it's based? THanks
  14. J

    Claiming tax back on joint purchases

    Can I claim tax back off joint purchases from a joint bank account but if the purchase was in my fiances name? We bought a map from (link removed) would it matter if company is located in a different city to ours? Also, we invested in double glazing, would it be possible to get VAT back on that...
  15. tax_moron

    How to deal with taxes when selling portions of your portfolio (for example, accumulating ETFs)?

    These are all hypothetical numbers.. I'm just hoping to better understand how all this works from a taxation perspective. For simplicity sake, we'll just use CSPX for this example, an accumulating ETF so no dividend taxes to worry about. If we make several arbitrary purchases of this over a...
  16. A

    Ways to avoid Closed-Company Surcharge

    Just wondering if anyone has any creative ideas on how to avoid Closed-Company Surcharge. If the profits are invested does that make them exempt? Also wondering if Forestry profits are exempt. I'm looking to invest in Forestry through my ltd as its tax-free
  17. M

    Advice on tax efficient long term investing - Irish life assurance fund versus offshore US-based funds

    Hi, first time posting but frequent reader of this and other Irish forums on investing. I am looking for advice (professional/non-professional) on how to best invest a seven figure sum for the mid- to long-term for an Irish resident. It will be an investment for children that can stay invested...
  18. T

    Tax on 2nd property

    I ended up as an unexpected landlord when the economy crashed. I bought a house for a family of 5 and my 2 bed apartment never sold, I've never declared tax on the rental. If I was to declare it now would I have to pay back tax on it or just start paying from now? Thanks
  19. S

    Preliminary tax payments as a sole trader

    Hi, I'm starting up as a sole trader from start of August. I'm a bit confused as to how tax payments (PAYE, USC etc) work being self-employed. I've researched it online but I'm still confused as to the whole preliminary tax thing so I hope someone can just clarify things for me. I've registered...
  20. S

    Putting Dublin rental property into joint names

    Hi and I'm a new poster and own a rental property (from my family home) which is 100% in my own name with bank mortgage. I live in the UK and trying to understand the considerations to get my property into joint names (50-50) with my husband. The plan is to spread tax since I'm the main earner...
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