You would pay tax at your top rate on all the rental income if it exceeds €10,000. So if you rent out two rooms at €500 each per month you will get €12,000 rent which is around €6,000 after tax.
You would be better off renting out the rooms at €400 each as then there would be no tax on the income under the Rent a Room Scheme
im thinking of sharing my house out, i have approx 3 bedrooms that i can share, i am aware of the rights associated with this but what tax will i have to pay the revenue on this. there is no mortgage on the house if this matters in this case. i propose to rent each room for €500 each p/m
thanks brendan, that sheds abit mre light on it so. if there is any exess over 10k that this can be put against upkeep of the house for alterations and repairs?
thanks brendan, that sheds abit mre light on it so. if there is any exess over 10k that this can be put against upkeep of the house for alterations and repairs?