What tax would I pay on this?

[movinghome]

Hi there,

I'm thinking of moving home as an experiment and leaving Dublin. I have a property that currently costs me 1400 per month on a variable interest rate.

I would expect to get about 1250 per month in rent for the property and will have to pay a managment fee of about 120 per month.

I'm having a hard time figuring out the tax calculations - could anyone help me figure out how much money I will be down each month if I rent it out and maintain my current mortgage arrangement?

Should I try to go interest-only on it in the event that I do move? I would prefer to not to do that though.

Any help would be great,

Cheers.

Edited to add that I'm almost 3 years as owner occupier.

 

[Howitzer]

How much would the mortgage be without your Mortgage Interest Relief? That's your base for calculating everying else, not your current position which assumes owner occupation.

 

[webtax]

What element of the €1,580 is interest and what is capital?

 

[movinghome]

Ok, I just range up to get the correct break down so disregard the 1580.





I'm currently paying 289 off the capital, 1374 in interest and am getting 275 in interest relief.

Cheers.