Putting a house on rent

Hello there,

We purchased our first home couple of months back and due to some unavoidable situation we have to relocate outside Ireland. We are planning to leave the house on rent for couple of years and then plan to sell it, say after 2 years.

Can anyone please let me know that what are the expenditure I may have to incur because of this, like Stamp duty, tax etc etc. Please advise.

Regards,

Srini

Moved from Mortgages and Home Buying.

See here:

Property Investment FAQ

You will be liable for a clawback of Stamp Duty - basically the difference between what an investor would have paid in SD on the purchase and what you actually paid (possibly nothing). You will be assessable for income tax (and witholding tax deducted by the tenant or agent if you are a non resident landlord) on rental income. You will be liable for CGT on some portion of any eventual resale gain on the property related to how long it was rented out versus a PPR. You will be able to offset interest on the mortgage and other allowable expenses against rental income.

See Revenue Guidelines [broken link removed] especially
"What if rents are paid to a non resident landlord" and "How are non resident landlords taxed"