S
Spartacus
Guest
Hi,
I have a few questions which hopefully somebody can help me on:
(1) I am about to purchase an investment property in Poland. I have taken equity out of my Dublin home to finance this property. Is the mortgage interest on the top up loan on my PPR an allowable expense against rental income? ie Does the mortgage have to be linked directly to the investment property before interest is an allowable expense?
(2) I heard somewhere that any fights that I have to Poland in relation to the property once it is being rented can be claimed as an allowable expense. Is this true?
(3) As an employee paying PAYE I presume that when the time comes to file tax returns I need to fill out a Form12. What section on this form would a person earning rent from a foreign property fill out? My confusion arises from the fact that section 13 specifically mentions rental income from land and property in the State. Section 25 is for Other Foreign Income but has no area for entering reductions like interest or repairs.
(4) When filing tax returns how do I decide what exchange rate to use (all my rental income will be in Polish Zloty)?
Thank you in advance for any help that you can provide.
I have a few questions which hopefully somebody can help me on:
(1) I am about to purchase an investment property in Poland. I have taken equity out of my Dublin home to finance this property. Is the mortgage interest on the top up loan on my PPR an allowable expense against rental income? ie Does the mortgage have to be linked directly to the investment property before interest is an allowable expense?
(2) I heard somewhere that any fights that I have to Poland in relation to the property once it is being rented can be claimed as an allowable expense. Is this true?
(3) As an employee paying PAYE I presume that when the time comes to file tax returns I need to fill out a Form12. What section on this form would a person earning rent from a foreign property fill out? My confusion arises from the fact that section 13 specifically mentions rental income from land and property in the State. Section 25 is for Other Foreign Income but has no area for entering reductions like interest or repairs.
(4) When filing tax returns how do I decide what exchange rate to use (all my rental income will be in Polish Zloty)?
Thank you in advance for any help that you can provide.