A
"Interest paid on monies borrowed for the purchase, improvement or repair of certain properties."
It's here in [broken link removed].
You can deduct the investment property mortgage interest in full from the rental income.but it doesn't say at what rate this is deductible. Is it the marginal rate or is it always at the lower rate?
I know it's too late now, but for future ref: if you file your return before Aug 31st the Rev will go through it and let you know if you over/underestimated your liability. Gives you plenty of time to correct any honest mistakes and avoid .
This isn't really true. What they do (regardless of whether you submit your return before or after Aug 31st) is issue a tax assessment based on the contents of your return. The only relevance of the Aug 31st date is that if you file before then, the Revenue will guarantee that they will issue you with an assessment by 31 October so you can then pay by that date.
However if there are errors in your returns, this will rarely crop up in the tax assessment process, unless you are talking about a basic error such as claiming a PAYE credit when you have no PAYE income.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?