Irish Rental Property & Foreign Mortgage

C

Celt07

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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.
 
Yes absolutely.

Celt07 said:
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.
Click to expand...
 
T McGibney said:
Both legal requirements but irrelevant to the OP's specific question.
Click to expand...

But with regard to the second point presumably Revenue will, once the 75% claim is made, also look at the address of the OP so I thought it helpful to point that out.
 
Indeed, but I think its also helpful to clarify that interest deduction is applied, subject to PRTB compliance, but regardless of compliance with NPPR or 20% deduction/collection agent appointment rules.
 
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