Should Rental income single or jointly assessed

[Ainey82]

Hi all. Currently doing the dreaded tax return on one rental income. My query is that my wife and I are paye workers, the rental property is in my name and our home is in my wife's name, can I be accessed on my income only as it makes a huge difference to the tax bill.we were accessed jointly for 2013, I'm doing my return using paylesstax. ie. Thanks in advance

 

[Bronte]

Well if it's your rent and your property I don't see how it has anything to do with your wife. Interesting. Do you both consider both the properties to be jointly owned or each one has their own.

I hope you've a bank account that is solely for dealing with the rental, not messed up with household stuff.

 

[T McGibney]

Hi all. Currently doing the dreaded tax return on one rental income. My query is that my wife and I are paye workers, the rental property is in my name and our home is in my wife's name, can I be accessed on my income only as it makes a huge difference to the tax bill.we were accessed jointly for 2013, I'm doing my return using paylesstax. ie. Thanks in advance

If the rental property is in your name, the rents from it must be returned in your name.

Does paylesstax.ie not address such questions for you?

 

[Mrs Vimes]

How does it make a difference to your tax bill if you are only assessed on your own income? If your wife's income is included then her rateband and credits are also included. Generally you can't be worse off by joint assessment.