TRS on PPR

[Liroom]

Hey
I moved to Dublin in 2006.
Left my then PPR in Cork & rented it. It was bought in 1994 for €40K.
Bought an apt in Dublin in 2006 (now PPR).
Reloaded the mortgage in Cork to total 130K. Dublin mortgage is 260K.
Do my rental income returns annually for Cork since & claim against 75% interest relief on the additional top up of 90K.
Question is: What are my interest relief options on my now PPR in Dublin...if any?....cos if there is, I don't think I've got any in that 5 yr period.

Thank you.
L

 

[Joe_90]

Well

Check out the revenue website for details of TRS http://www.revenue.ie/en/tax/it/leaflets/tax-relief-source-mortgage-interest-relief.html

I think you may have a bigger problem.
The purpose of the remortgage was to acquire a PPR the interest on this loan is only allowed against a PPR. Just because the mortgage is on a property that is rented out does not mean that the interested is a Case V deduction.

 

[simplyjoe]

Correct. Common mistake made by self submitters.