Hi all,
I'm submitting my rental income tax return (bear with me, this is not purely a rental income question) atm and I'm wondering do I have to pay tax.
My circumstances in 2009:
Worked from 1st January to 15th February and resigned (before travelling for the rest of the year).
Earned €9661 gross in this app. 6 week period.
Paid €2076 in income tax on this. Did not claim refund for overpaid tax.
Earned €7143 in taxable rental income after all deductions/allowances.
By my reckoning then my total taxable income between PAYE and rent is €16803 and I have already paid €2076 in tax for 2009.
I suspect I don't owe any tax after my PAYE and single persons tax credit are applied. What do others think. I believe I can only apply my PAYE tax credit to my PAYE earnings (ie, NOT to my rental income, but I believe my single persons tax credit can be applied to all income). Is there a floor below which no income tax is to be levied?
Thanks for any input folks.
I'm submitting my rental income tax return (bear with me, this is not purely a rental income question) atm and I'm wondering do I have to pay tax.
My circumstances in 2009:
Worked from 1st January to 15th February and resigned (before travelling for the rest of the year).
Earned €9661 gross in this app. 6 week period.
Paid €2076 in income tax on this. Did not claim refund for overpaid tax.
Earned €7143 in taxable rental income after all deductions/allowances.
By my reckoning then my total taxable income between PAYE and rent is €16803 and I have already paid €2076 in tax for 2009.
I suspect I don't owe any tax after my PAYE and single persons tax credit are applied. What do others think. I believe I can only apply my PAYE tax credit to my PAYE earnings (ie, NOT to my rental income, but I believe my single persons tax credit can be applied to all income). Is there a floor below which no income tax is to be levied?
Thanks for any input folks.
