Rent-a-room relief

What property can qualify for rent-a-room relief ?

In order to qualify for rent-a-room relief the following has to be apply:

1. Property has to be in the state
2. Property must be your home for the greater part of your time and where your friends and family would expect to find you
3. Property address must be where all correspondence such as bills etc go to
4. The room or unit let much be apart of the home or attached to the home. In other words, a self contained unit next door to your home but not attached will not qualify
5. Room cannot be used for business purposes for example it can’t be rented to a business for storage etc

Rent a room relief gives an exemption from tax for income up to 14k and if any of the conditions don’t apply above then the income will be treated as ordinary rent subject to tax at your marginal rate with PRSI and USC.

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