Tax back on foreign rent

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115606

Guest
Hi,

Can somebody help with a tax issue. I have an apartment in Poland and have been receiving rent for the past two years. However I have two loans to pay for the apartmant, one in Ireland and one in Poland. I read on the Revenue website that interest on a loan can be offset against the rental income when declaring tax. Can anyone tell me whether I can use the interest paid from both the domestic and froeign loan as a cost when finialising my tax claim. Is there any documentation available which would support my case to combine the interest from the two loans?

Thanks in advance
 
Loan interest on a loan to purchase or improve a property is allowable no matter where the loan is from. However, the interest relief is restricted to 75% of the interest paid from April 2009.

Are you declaring the rent in Poland and paying Polish tax? If so, you can get credit in Ireland for Polish tax payable.