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Irish rental income

  1. Overview
  2. What expenses are allowed?
  3. What expenses are not allowed?
  4. How do you calculate your taxable income?
  5. Rental profit and losses
  6. Tax incentive schemes for rental income
  7. Premiums on leases
  8. How do you declare your rental income?

What expenses are not allowed?

You cannot deduct the following expenses when you are calculating your rental profit or loss:

  • pre-letting expenses, other than property fees before you first rented out the property. However certain pre-letting expenses on vacant residential property may be deductible.
  • post-letting expenses
  • capital expenses on property improvements unless allowed under an incentive scheme
  • expenses on premises rented out on an uneconomic basis, where it is not possible to make a profit from the rent received
  • expenses in between renting out the property in certain circumstances
  • interest from the time you buy the property up until it is first rented out
  • Local Property Tax (LPT)
  • any cost for your own labour when carrying out repairs to the property.

Next: How do you calculate your taxable income?

Published: 08 November 2022 Print this page

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