Not correct. Rental income and dividends cannot be directly sheltered for tax purposes by a pension payment. If the OP has eligible income eg from employment or self-employment, this can be sheltered.Rent is treated same as income/dividends so AVC's reduce your tax IT liability (but not PRSI/USC)..
No you can not offset unfortunatelyHi, I'm due to speak to an accountant next week on this matter but I declared my rental income due from last year through revenue online. I had a quick question on the tax due, if you are oweing approx 8K, can you offset this with a contribution to a pension scheme? as in you put 2K into a pension pot and this reduced your bill of 8K. I remember coming across this in the past and was hoping for clarification, thanks.
Didn't you research these before getting involved in the rental property business?thanks all, looks like I might be another landlord leaving the market soon, the tax bills on the gross income are crippling
I'd imagine it's rare that a landlord has zero expenses or capital allowances for renting their property which would would mena they would be taxed on the Gross amount of rental income received.thanks all, looks like I might be another landlord leaving the market soon, the tax bills on the gross income are crippling
it was my first home as an apartment, no longer sutiable for a family.Didn't you research these before getting involved in the rental property business?
In a IT assessment, is the sum of (earned/unearned income +dividends) *40% your IT liability ?Not correct. Rental income and dividends cannot be directly sheltered for tax purposes by a pension payment. If the OP has eligible income eg from employment or self-employment, this can be sheltered.
Didn't you research these before getting involved in the rental property business?
very helpful contribution
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