First Time Buyers - Rent A Room Tax Free
The "Rent A Room Scheme" was introduced by the Finance Act 2001. Its
main aim was to increase the availability of rented residential
accommodation and permitted a person to let a room (or rooms) in
their principal private residence, with gross annual rental income
of up to €7,618 being exempt from tax. Room rentals coming within
the scope of this scheme will not trigger a clawback of any stamp
duty relief, nor will it affect full entitlement to Capital Gains
Tax principle private residence relief (in the event of a subsequent
disposal of the property) nor full entitlement to mortgage interest
relief.
Other First Time Buyer Benefits:
|
