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Starting a new business - Start your own business - Oliver Niland Chartered Accountant  & Tax Specialist Galway Ireland

What can i deduct against income from my AIRBNB letting ?

What can i deduct against income from my AIRBNB letting ?

What can expenses can I deduct against income from my AIRBNB letting ?

Typical expenses that can be deducted from an individual’s income in relation to shortterm lettings.

Where income is deemed to be trading income, a deduction will be available for expenses which
have been wholly and exclusively laid out for the purposes of the trade.

This can include but is not limited to:

1.Insurance premiums

2.Maintenance costs – e.g. cleaning, painting

3.Repairs carried out on the property

4. Cost of goods or services that you have provided – e.g. gas, electricity

5. Management costs – e.g. property management fees

6. Advertising fees or online commission payments.

7. Pre-trading expenditure incurred up to three years prior to the commencement of the
trade.

Where income is Case IV (i.e only let out on an occasional basis), a deduction is available for costs directly incurred for the provision of the short-term let. This can include, but is not limited to:

    1. Advertising fees or online commission payment
    2. Cleaning fees
    3. Cost of food provided to guests

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

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