Say one sibling owns and investment property in Ireland, but their permanent residence is Overseas.
They rent the Irish property to another sibling for a sum below the market rate, what are the implications for both in relation to tax or CGT.
The market rate is €1200 a month, but they want to rent it to the other sibling for €600 a month, because they don't want strangers in it and they may come and holiday themselves in the house for several weeks/months per year so don't want to tie themselves to a tenancy agreement.
They rent the Irish property to another sibling for a sum below the market rate, what are the implications for both in relation to tax or CGT.
The market rate is €1200 a month, but they want to rent it to the other sibling for €600 a month, because they don't want strangers in it and they may come and holiday themselves in the house for several weeks/months per year so don't want to tie themselves to a tenancy agreement.