Melbourne2013
Registered User
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- 3
Hi there guys- my parents gifted me a small commercial property ( small hardware shop) . I receive 1000 rental income per month. Expenses include the annual mgt fee with some painting etc which I know I can off set.there is no mortgage outstanding on the property. I am a PAYE worker and on the higher rate of tax. I am looking to buy my own apartment- I can only get a mortgage of 189k which isn't a lot in Dublin. My question is can anything be done to offset the amount of tax I have to pay on the rental income on the shop- is there any options around remortgaging to reduce tax and help with current mortgage application- many thanks - E