Interest Relief on Mortgage for Rented Apt.

[ChunkyLover]

Just want to know if I can continue getting the Interest relief on the Mortgage for the apartment I just rented it out. I am currently getting about €130 a month (2006).

I moved into a new home with a mortgage but haven't filled up the Interest Relief Claim form yet, as am not sure if I can claim any.

Very confusing. Any help is greatly appreciated.

Best Regards
Chunky ...

 

[ClubMan]

Just want to know if I can continue getting the Interest relief on the Mortgage for the apartment I just rented it out. I am currently getting about €130 a month (2006).

You cannot claim owner occupier mortgage interest relief but you can offset interest against rental income when filing your rental income tax return. If you bought the property within 5 years of renting it then you are also liable for a clawback of stamp duty. You should look at the Property Investment FAQ and maybe get independent, professional advice to avoid digging yourself into a tax hole. Did consider the tax implications of renting out your former PPR (Principal Private Residence) apartment?

I moved into a new home with a mortgage but haven't filled up the Interest Relief Claim form yet, as am not sure if I can claim any.

You can claim owner occupier mortgage interest tax relief on the mortgage on your new PPR.