If you qualify for rent-a-room relief, the income you get from renting out the room will be exempt from PRSI, the Universal Social Charge or income tax. However, it must be included on your annual income tax return.
I would think there are lots of people renting out a room in their house earning a few grand who are ignorant of the fact that they are required to state rent a room income in their tax return. They would just have latched onto the fact that's its tax free and wouldn't just be aware."even if your sole income is PAYE." if you are in receipt of Rent a room income, that is still counted as an income. Similarly with the Childcare Services Relief. I would imagine though that a lot of people don't file this income at all, even if exempt from tax.
Maybe, but these people are still knowledgeable of the Rent-a-Room Scheme and in most cases, the ceiling on income to qualify for relief. These days it's easy to find out things relating to your tax affairs than ever before.I would think there are lots of people renting out a room in their house earning a few grand who are ignorant of the fact that they are required to state rent a room income in their tax return. They would just have latched onto the fact that's its tax free and wouldn't just be aware.
Yes. Also there is confusion re RTB registration. My understanding is that registration is not required but a call to RTB will give you different answers depending on who you speak to. Its a great scheme though. I dont understand why older people dont do it to supplement income and use space.Maybe, but these people are still knowledgeable of the Rent-a-Room Scheme and in most cases, the ceiling on income to qualify for relief. These days it's easy to find out things relating to your tax affairs than ever before.
I would say many older people would be very wary of having someone (a stranger) living in their home.Yes. Also there is confusion re RTB registration. My understanding is that registration is not required but a call to RTB will give you different answers depending on who you speak to. Its a great scheme though. I dont understand why older people dont do it to supplement income and use space.
Maybe they value their privacy and space!dont understand why older people dont do it to supplement income and use space.
Maybe, the right person would be great.I would say many older people would be very wary of having someone (a stranger) living in their home.
Not just older people.I would say many older people would be very wary of having someone (a stranger) living in their home.
You can't claim it if the paying lodger is employed by you or someone close to you.What does this mean?
"rent-a-room relief does not apply to payments received either directly or indirectly by an individual, or a person connected with the individual, for accommodation provided in the family home where that individual is an office holder or employee of the person making the payment or of a person connected with the payer"
Wont be long I said to myself before someome comes along with a rent a room horror story - and there we go - a murder...Not just older people.
I know of someone who was brutally murdered by a lodger whom they had taken in under the rent-a-room scheme.
That's awful. There was a case of a murder re a game of chess bwtween owner and tenant.Not just older people.
I know of someone who was brutally murdered by a lodger whom they had taken in under the rent-a-room scheme.
And this means that such rents are fully taxable. Revenue nonsense and a precise example of the devil in the detail.You can't claim it if the paying lodger is employed by you or someone close to you.
Would you prefer we didn't mention it?It
Wont be long I said to myself before someome comes along with a rent a room horror story - and there we go - a murder...
What sort of argument is that? "Mostly all sorts of crimes do not happen."?Mostly murder does not happen and
The criteria for eligibility for rent a room in such scenarios is in fairness as clear as mud.also not all rent a room schemes are in the same house as the landlord - there is provision for an attached dwelling so people would not have to share with a lodger.
Preferable.Would you prefer we didn't mention it?
What sort of argument is that? "Mostly all sorts of crimes do not happen."?
The criteria for eligibility for rent a room in such scenarios is in fairness as clear as mud.
I want to murder my tenant when he cooks.....It
Wont be long I said to myself before someome comes along with a rent a room horror story - and there we go - a murder...
Mostly murder does not happen and also not all rent a room schemes are in the same house as the landlord - there is provision for an attached dwelling so people would not have to share with a lodger.
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