B banchang Registered User Messages 82 28 Nov 2024 #1 I'm considering investing in a property with a view to putting it on the rental market. It needs some repairs done before fit to rent out, including new roof. If I incur such costs after buying the house but before first tenancy, are such costs deductible for tax purposes ?
I'm considering investing in a property with a view to putting it on the rental market. It needs some repairs done before fit to rent out, including new roof. If I incur such costs after buying the house but before first tenancy, are such costs deductible for tax purposes ?
C ClubMan Registered User Messages 52,558 28 Nov 2024 #2 Anything useful here? site:askaboutmoney.com pre-letting expenses - Google Search What expenses are allowed? This page outlines the expenses you can deduct from your taxable rental income www.revenue.ie What expenses are not allowed? This page is a list of expenses that cannot be deducted from taxable amount of rental income www.revenue.ie
Anything useful here? site:askaboutmoney.com pre-letting expenses - Google Search What expenses are allowed? This page outlines the expenses you can deduct from your taxable rental income www.revenue.ie What expenses are not allowed? This page is a list of expenses that cannot be deducted from taxable amount of rental income www.revenue.ie
D DannyBoyD Registered User Messages 2,880 28 Nov 2024 #3 If its inhabitable, can you do temp repair; let for 3 months, vacate & then do your refurb?
T T McGibney Registered User Messages 7,338 28 Nov 2024 #4 https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-04/04-08-11.pdf
https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-04/04-08-11.pdf
B banchang Registered User Messages 82 29 Nov 2024 #6 Thanks for all replies. It sounds as if I rent it out before repairs, & then replace roof while tenant is in place, its deductible.
Thanks for all replies. It sounds as if I rent it out before repairs, & then replace roof while tenant is in place, its deductible.