I...Media comments on the rental cap being exceeded by landlords would suggest otherwise....
YesIsn't it 3k per year to anyone?
Just let them move in and don't charge them any rent. Don't have a rental agreement in place.Hi
I have a property which previously generated rental income but now I want to let my son and his wife live rent free there for couple of years as the try save for their own.
Question can my wife and I each ‘gift’ them 3k in rent ie total €12k so there is no tax liability for any party.
Am I right in thinking if this can’t be done the couple would have a benefit in kind type liability or similar.
what implications would this have on future rentals in rent pressure area?
Tks
C
Gekko they have to pay tax on the rent whether it's received or not is my understanding.
The reduced rent for caretaker discount would revenue be ok with that rather than market rent. Because there is a rule about uneconomical letting.
They also run into the issue of later not being allowed the rent to market rent if the property is in a rental zone which devalues the property for sale purposes.
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