emigrating, sell or rent house

[mrsoz]

hi,

If a person purchased a house under a year ago as a FTB and is now thinking of emigrating, what taxes would you be liable for if you were to rent your house? The rent taken would not cover the full mortgage.

Was there a change in this years budget in relation to stamp duty claw back that you can rent after two years instead of five?

What level of tax would you pay on this rental income if you are not living in Ireland?

House is probably worth same as purchase price if sold today, I don't mind holding the property for 3 / 5 years as security if moving country did not work out. Is renting it worth the hassle?


thanks

 

[LDFerguson]

Was there a change in this years budget in relation to stamp duty claw back that you can rent after two years instead of five?

Yes. If you rent your home out less than two years after you bought it, you are liable to pay the Stamp Duty you would have paid on the transaction without your FTB exemption. This used to be five years.

 

[ClubMan]

The Property Investment FAQ and key posts summarise many of the tax and other issues relating to renting out a former PPR. They may still make reference to the 5 year SD clawback period which is now 2 years.