Does anyone know if the Earned Income Tax Credit of
€1,650 (or 20% of your qualifying earned income), can be applied to Air BnB income.
(The Air BnB is let out for 50 weeks a year).
Revenue says it is not available against your passive income, such as rental income.
According to PayLessTax.ie
letting out a property on a regular basis on Airbnb is accepted as a trade and taxed under the rules for dealing with a trade.
This gives greater scope for the claiming of expenses against the income earned.
€1,650 (or 20% of your qualifying earned income), can be applied to Air BnB income.
(The Air BnB is let out for 50 weeks a year).
Revenue says it is not available against your passive income, such as rental income.
According to PayLessTax.ie
letting out a property on a regular basis on Airbnb is accepted as a trade and taxed under the rules for dealing with a trade.
This gives greater scope for the claiming of expenses against the income earned.