Mortgage Interest Relief is not available to you as a landlord. You must inform the bank of this as it's deducted at source.
You must inform both bank and Revenue. No ifs or buts. And insurance company.
Other than that I'd return the keys and shove off to Oz or NZ or anywhere else but here.
You must inform both bank and Revenue. No ifs or buts. And insurance company.
Income Tax @ 41% €930.7
USC @ 7% €158.9
PRSI @ 4% €90.8
Tax Payable €1180.4
Q. I am an employee paying Class A PRSI. What rate of PRSI do I pay on my investment rental income?
A. You are classed as an “excepted self employed contributor” and as such not liable to PRSI on your investment / rental income. This exemption applies to employed persons whose only source of non-employment income is passive income (i.e. income other than from a trade or profession). This exemption does not apply to the Health Contribution.
For example, confirm the real PRSI/USC figures which the OP had got basically right and which the previous poster got wrong.
Anyway, the main point is to give advice to OP and it's more relevant to look at the downside of his proposed actions than nitpick and juxtapose quotes.
For example, confirm the real PRSI/USC figures which the OP had got basically right and which the previous poster got wrong.
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