Mortgage interest against rental income
Mortgage interest relief against rental income
Where a loan has been used to purchase, improve or repair a rented residential premises the interest on the loan is restricted as a rental expense deduction against rental income as follows dependent on tax year:
Interest is restricted as follows
- For 2017 : Capped at 75%
- For 2018 : Capped at 85%
- For 2019: Capped at 90%
- For 2020: Capped at 95%
Does not apply to mortgage interest on commercial property
In order to get the above deduction, the property has to be registered for PRTB
Any queries on the above, give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie
