Rent a room relief

Rent-a-Room Relief

Where you rent a room (or rooms) in your sole or main residence and the gross rent and any amounts received for meals or other services supplied in connection with the letting is below €12,000 for 2016 and €14,000 for 2017, this rent is exempt from income tax, PRSI and USC.

The rental income received must be declared and returned on your annual tax return in order to qualify for the exemption.

The exemption does not affect any entitlement to mortgage interest relief or to capital gains tax exemption on the disposal of the residence.

No exemption is due where the payments are to a parent from their child

Any queries on same give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie