Insurance - Tax deduction ?

P

Pol

Guest
I see form some of the postings that Insurance is deemed tax deductable from an investment property.

Is this solely property insurance ie. the normal insurance taken out against damage/fire etc

Or does it also include Mortgage Protection Life Insurance that your lending institution will insist on ?

Regards
 
Pol said:
Or does it also include Mortgage Protection Life Insurance that your lending institution will insist on ?
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May insist on surely? Mortgage protection life assurance is only mandatory for owner occupied PPRs and not for rental properties. Some lenders may insist on it - others may not. If you pay it then I suspect that it can be offset as an allowable expense but I'm not 100% certain. Does Revenue guide IT70 (see the Property Investment FAQ) clarify?
 
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