Hi folks, hoping someone can clear this up? The situation is as follows -
Irish citizen, resident abroad for many years, remortgaged a foreign property to purchase an Irish rental property.
I'm wondering if it is possible to claim the 75% interest relief on the portion of interest relating to the Irish property?
S97 TCA simply states that one of the deductions authorised in the calculation of rental income is -
(e) interest on borrowed money employed in the purchase, improvement or repair of the premises.
Irish citizen, resident abroad for many years, remortgaged a foreign property to purchase an Irish rental property.
I'm wondering if it is possible to claim the 75% interest relief on the portion of interest relating to the Irish property?
S97 TCA simply states that one of the deductions authorised in the calculation of rental income is -
(e) interest on borrowed money employed in the purchase, improvement or repair of the premises.