Why not?I don't want to charge as much as I can get away
Call me a sucker, I like to try balance the act in betweenWhy not?
It's a business arrangement, you are not running a charity.
No.Do you think that holds up?
Appreciate your opinion but I dont think its correct. The rent is what you submit to the RTB, that's what I'll be held to account for. What you agree with and receive from your tenant each month can vary.No.
The rent is whatever you agree with your tenant and not some other made up figure.
What you agree with and receive from your tenant each month can vary and get grey. And making it grey is the intention.
Suppose you set a fake rent of €2,000 and tell the RTB that and then collect only €1,500 from the tenant.The rent is what you submit to the RTB.
Yes that might be a better approach actually. Gas and electricity are prepay. I could just keep those topped up to the tune of the refund each month. Along with bins and broadband included, that would cover it.You could set the rent at market rate but include some extras you know they’ll need like broadband, TV, bins, gas/electricity (bit risky), annual window clean, annual painting.
Yes, you're right. It brings the potential of too much trouble. I think Zeniths suggestion above works though. Charge full rate, but pay for bins and broadband and I can log into the prepaypower account each month and top it up with the remainder. Revenue would be none the wiser. Much better idea.Suppose you set a fake rent of €2,000 and tell the RTB that and then collect only €1,500 from the tenant.
What will you tell Revenue when they ask you why you’re only declaring tax on the €1,500? They could infer tenant is paying you €500 in cash so you can evade tax.
There are all sorts of contractual, regulatory, and tax implications of having a fake rent and you would be wise to steer incredibly well clear of doing so.
If you're going down that road, you'll need to ensure you'll definitely be eligible to claim those costs as tax deductions before you file your first tax return.pay for bins and broadband and I can log into the prepaypower account each month and top it up with the remainder.
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