Hello!
I am about to leave Ireland for Spain for a couple of years and I will need to rent my house. I need some advice on how to calculate my tax to revenue and possibly to get a tax advisor. My understanding is that rental income is considered as taxable income so basically my mortgage won't never be covered.
Can somebody explain me what to do? and if you have a tax advisor for further information.
For example Revenue allows 12.5% of wear and tears expensed across 12 years. How do I calculate the value of wear and tears based on what?
Thanks
Stella
I am about to leave Ireland for Spain for a couple of years and I will need to rent my house. I need some advice on how to calculate my tax to revenue and possibly to get a tax advisor. My understanding is that rental income is considered as taxable income so basically my mortgage won't never be covered.
Can somebody explain me what to do? and if you have a tax advisor for further information.
For example Revenue allows 12.5% of wear and tears expensed across 12 years. How do I calculate the value of wear and tears based on what?
Thanks
Stella