If I get a mortgage of €50,000 for renovating an old house can this be treated as an expense when calculating rental income tax returns?
The 50k will be used for a new roof, rewiring, new plumbing, new kitchen, painting, decorating and furnishing.
You cannot deduct items prior to renting. Your 50K mortgage interest will be allowable at 75%. The 50K will also be allowable when you sell as a CGT deduction.