USC / PRSI calculated on gross or net income?

Overseas123

Registered User
Messages
5
Hello
I am a landlord and am calculating my USC / PRSI payments on my net rental income.

Net rental income being rent income less all reasonable costs (insurance, management charges, repairs, partial interest deduction, etc.). Not including Property Tax.

I believe I am correct in the above interpretation however I saw in some places that these taxes should be calculated on gross income?

Thanks

Eoghan
 

The Horseman

Frequent Poster
Messages
254
Hello
I am a landlord and am calculating my USC / PRSI payments on my net rental income.

Net rental income being rent income less all reasonable costs (insurance, management charges, repairs, partial interest deduction, etc.). Not including Property Tax.

I believe I am correct in the above interpretation however I saw in some places that these taxes should be calculated on gross income?

Thanks

Eoghan
USC etc is based on your gross less allowed expenses. You are required to pay 90% in preliminary tax by end Jan with balance due 14 the Nov.
 
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