tax on sublet

[skipjack]

I am thinking of renting a commercial unit privately then subletting at a higher rent at a later date.
The lease allows for this but my question is how will the rent I receive from the sublet be treated as regards tax?
Will I be paying tax on the profit only or will all the rent I receive be taxable?
Would appreciate any insights.
Thanks!

 

[Breninio]

In calculating the income assesable to tax you will take into account the rent you receive for the property and deduct all allowable expenses, including the rent you yourself pay on the property.

www.phoenixtaxservices.ie