What're the taxes on net rental income?

[Nemama]

Hi,

As long as the rental income is greater than rental expenses, what are the taxes involved to net rental income? May I have to be self-employed or something like that?

Thanks

 

[LDFerguson]

The net rental income is taxed as if it was earned income. So if your earned income puts you in the high rate of tax, then your net rental income will be taxed at the high rate also.

 

[gar32]

Unless you live outside Ireland in which case the rate is 20%

 

[Nemama]

What's this high rate pc? Thank you

 

[LDFerguson]

The higher rate of Income Tax is 40%.

Have a read of this https://www.revenue.ie/en/property/rental-income/irish-rental-income/index.aspx

 

[Nemama]

Thanks @LDFerguson. Yes I did.