T
tecchie
Guest
Hi,
first time poster so be gentle !
I am living in Republic and working in Northern Ireland (commuting more or less daily). I am paye
worker so pay tax in North. I need to declare this income in the south but can bring my southern tax
liabiliy on this income down to zero by availing of trans border relief.
I also have rental income in the south, which I would currently be paying top rate of tax on (plus leveies etc). My wife is currently not working so what I was thinking of doing to better
manage my tax liabilty was to transfer the rental properites into my wifes name and hence all the
rental income would be in her name. As she has no other income this should greatly reduce the tax
liabilty on the rental income.
Currenly we are assessed jointly as a married couple, so would have to elect for separate assesment I guess.?
Anybody see any flaws in the above ?
Any idea of costs of costs for transferring properties into wife sole name (i know this does not trigger a taxable event, more solictor costs, anything else ?)
first time poster so be gentle !
I am living in Republic and working in Northern Ireland (commuting more or less daily). I am paye
worker so pay tax in North. I need to declare this income in the south but can bring my southern tax
liabiliy on this income down to zero by availing of trans border relief.
I also have rental income in the south, which I would currently be paying top rate of tax on (plus leveies etc). My wife is currently not working so what I was thinking of doing to better
manage my tax liabilty was to transfer the rental properites into my wifes name and hence all the
rental income would be in her name. As she has no other income this should greatly reduce the tax
liabilty on the rental income.
Currenly we are assessed jointly as a married couple, so would have to elect for separate assesment I guess.?
Anybody see any flaws in the above ?
Any idea of costs of costs for transferring properties into wife sole name (i know this does not trigger a taxable event, more solictor costs, anything else ?)