L
LimerickLad1
Guest
Hi all,
I'm a PAYE worker paying approx €10k per annum at the higher tax rate. On top of this I will earn approx €5k rental income taxable at the higer rate in 2010 (net after mortgage interest, capital allowances & expenses).
I'm planning on investing €15k in "the movies" to avail of Section 481 tax relief. Once I notify Revenue of my investment they will immediately start giving me credit for the €10k relating to my PAYE income but how do I claim the relief on my rental income? Do I include the €5k portion of my investment as another expense when doing my 2010 tax return next year?
Hope this is not too confusing?
Many Thanks!
I'm a PAYE worker paying approx €10k per annum at the higher tax rate. On top of this I will earn approx €5k rental income taxable at the higer rate in 2010 (net after mortgage interest, capital allowances & expenses).
I'm planning on investing €15k in "the movies" to avail of Section 481 tax relief. Once I notify Revenue of my investment they will immediately start giving me credit for the €10k relating to my PAYE income but how do I claim the relief on my rental income? Do I include the €5k portion of my investment as another expense when doing my 2010 tax return next year?
Hope this is not too confusing?
Many Thanks!