FTB tax relief on foreign home

[wheeler]

I bought a house in Holland when I was living there. I moved home after 1 year and kept the house. Mortgage is with a dutch bank.

Now I have bought another house here.

I know that I am not seen as a FTB for the house here but can I claim FTB tax relief on my first house?

 

[asdfg]

As the first house was purchased in Holland, and if rented out (assumption on my part) is an investment you can't claim tax relief on the Dutch mortgage.

If the property in Holland is rented out you also have to pay tax on the rental income less allowable expenses in Holland and the same in Ireland (mortgage interest is an allowable expense in Ireland) not sure about Holland. You can offset the Dutch liability against the Irish liability when paying the Irish Revenue.

If you decide to sell the Dutch property you may be liable to CGT in both countries but you can offset the Dutch liability against the Irish liability provided the double taxation agreement covers this type of tax.

 

[stuart]

I know that I am not seen as a FTB for the house here but can I claim FTB tax relief on my first house?

Not for stamp duty purposes

In relation to owner occupier I think you can (i.e increased mortgage interest allowed under TRS scheme)

stuart@buyingtolet.ie