Dep of Furniture & Fittings regarding rental income

[gilboy]

Hi

I rent a 3 bed house on the north side of Dublin.

In terms of the wear and tear figure thats allowed as an expense against rental income I think my furniture and fittings are worth about 15k hence allowing 1,875 pa (12.5% of 15k).

Just wondering how does this compare to others in a similar situation

Thanks

 

[Domo]

You need to use the actual value of the furniture etc at the date of commencement of letting the property.

E.g. A Sofa cost you €1,000 new - it is likely to have a second hand value of €200 (or less) now.

You need to calculate the value on this basis - not on replacement or new cost.