Introuble83
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However I don't know if the fact that you stand to benefit from half the property down the road impacts this. I don't think that it does but I am not a tax expert.You may be legally required to regularly pay an amount on behalf of your former partner, such as a mortgage payment. This is treated as a legally enforceable maintenance payment to your former partner.
Tax treatment of legally enforceable maintenance payments
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You can claim tax relief on the amount you have paid for the benefit of your former partner.
They were very hesitant to provide any advice on this and recommended I speak to a tax consultantIf the mortgage payments are legally enforceable maintenance payments under the divorce agreement then you should be able to claim tax relief on them.
Legally enforceable maintenance payments
This section explains the tax treatment of legally enforceable maintenance paymentswww.revenue.ie
However I don't know if the fact that you stand to benefit from half the property down the road impacts this.
While your solicitor is unlikely to be a tax expert have they been able to offer any opinion on this?
If I own no other property and receive no rental income from the family home for tax purposes would it still not be considered my PPR? Whilst it’s not my home address it’s not an investment property eitherOk, so the key question is whether or not the fact that you effectively maintain an interest in the property (insofar as if/when it is eventually sold further down the line the proceeds will be split 50:50 between you and your ex spouse) impacts your eligibility for tax relief on mortgage repayments in the meantime? (Or if that relief might be clawed back in some way perhaps?)
I can't seem to find anything conclusive on this question. And even ChatGPT advised "get advice from a tax expert".
You might also want to find out what the tax treatment will be if/when you get your 50% cut of the property sale down the line. E.g. might you be liable for CGT on your share given that it wasn't your PPR? Or might you get PPR relief because you were providing accommodation for your ex/and child(ren?)?
In the circumstances described it's simply not your PPR. Whether or not PPR CGT relief/exemption might apply on your share of the eventual sale proceeds is the question that I can't answer. There are some situations in which such PPR relief/exemption is allowed even when the property was not one's PPR. If nobody else here can address the tax questions you may well have to get independent professional tax advice.If I own no other property and receive no rental income from the family home for tax purposes would it still not be considered my PPR? Whilst it’s not my home address it’s not an investment property either
No. You just claim it if you're entitled to it. Your ex's situation with regard to income/tax is irrelevant in this context.If the ex spouse is not working thus not paying tax does this affect my ability to obtain the credit ?
It's up to your ex to deal with their own tax affairs unless you're still on joint assessment.I assume revenue contact the social welfare and deduct the equivalent value from any received welfare benefits
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