budgets -€200 tax and 75% relief

A

ardman

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1. How is this €200 collected?
2.Does it apply from beginning of this (09) year?
3.Is it allowable as an expense?
4.According to recent budget, only 75% of mortgage interest is now allowable to offset against rental income. Does that come into effect in 2010 or this year?
Regards,
Ardman
 
Ardman,

I was looking at a post earlier where it is suggested that the 75% rule is only applicable after 7/4/2009. so for the first 4 months in 2009 you can claim 100% relief.

The €200 tax can be paid through the NPPR on-line tool at nppr.ie - there are penalties for late payments. I too am searching for the answer to the ' Is it allowable as an expense question' - let me know if you find this answer.

One of the principals of the tax system is that you cant pay tax on a tax - so if this €200 is not allowable then you will end up paying 20%/41% on an extra €200 of income.

The Revenue website tells you all but tells you nothing - it is too hard to research, and I used to work there !

Bob
 
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