NO PPR, any relief on investment property.

Hi

Im wondering; if your PPR is rented out, stamp and tax taken into account and therefore you have no PPR.
( say living abroad, renting, sleeping on streets - whatever only have 1 property in this scenario )
What, if any, upside or otherwise is there to this scenario, with regards to relief on the investment?

Is there TRS on the investment mortagage also?
Can I claim my personal TRS credits on this loan?
I assume if you are abroad TRS does not apply is there any other relief?

Any thoguht on this scenario

cheers
MB

If you have a mortgage on the property that portion of the rent you use to pay the mortgage interest and other expenses maintaining the property is not liable to income tax.

GeneralZod is correct. If you have to live in a box in order to rent your property, I'd have a rethink!

monkeyboy said:

Is there TRS on the investment mortagage also?
Can I claim my personal TRS credits on this loan?
I assume if you are abroad TRS does not apply is there any other relief?

Click to expand...

Once it's rented out and you're not living there, it ain't your PPR. Answers to your questions are:
(1) No
(2) No
(3) Mortgage interest can be deducted from rental income for the purposes of calculating your tax liability and this is whether or not you're living in Ireland. However, there are other complications if you're abroad and you should seek professional advice.

This is basically a property investment query so has been moved from Mortgages and Buying and Selling Homes

Any info [broken link removed]. If living abroad see

What if Rents are payable to a non-resident landlord?
How are non-resident landlords taxed?
How are foreign rents taxed?