As part of our retirement income planning my wife and I are planning to let out a jointly owned apartment and hoping to generate an annual gross rental income after expenses of €20k. This is planned to happen in tax year 2026.
Our question is whether we are allowed to allocate this income between us in whatever ratio we like eg 90/10, 80/20, etc. or are we obliged to have 50/50? The context of asking is that I wish to avoid the rental income for me exceeding €7500 as this may affect my eligibility for the Over 65 social welfare payment.
Thanks in advance.
Our question is whether we are allowed to allocate this income between us in whatever ratio we like eg 90/10, 80/20, etc. or are we obliged to have 50/50? The context of asking is that I wish to avoid the rental income for me exceeding €7500 as this may affect my eligibility for the Over 65 social welfare payment.
Thanks in advance.