Budget 2018 for landlords

Q: I am a landlord, how will this year's Budget affect me?  

10th October 2017

A: There are two things that you need to be aware of:

  1. Budget 2018 introduced a new deduction you can make for 'pre-letting' expenses. You can claim for these up to a maximum of €5,000 per property. These pre-letting expenses should be of a revenue nature i.e. in relation to the letting and not for building works etc. This could result in a potential tax saving of approximately €2,438 for you. 
  2. Make sure you are claiming the right amount of mortgage interest relief. For 2017 you can deduct 80% of the interest you pay on your mortgage however in 2018 this will rise to 85%. This effectively means an additional €5 tax deduction for every €100 you have spent on mortgage interest in 2018.

Disclaimer: Advice shared in this blog is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this forum, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

Call us today to make an appointment at your local office

1890 98 76 09

Or submit an enquiry

Call us today to make an appointment at your local office

1890 98 76 09

Or submit an enquiry