Rental income split between spouses

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 accountants told us 50:50 - no other way around it and our taxes have included 50% of the rental income each for the last few years.

lougre said:

Our accountants told us 50:50 - no other way around it and our taxes have included 50% of the rental income each for the last few years.

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Thanks for sharing your experience.

I wonder what a tax advisor would say? Accountancy is a different discipline and I’ve heard of them being wrong before.

I can’t see direction from Revenue in this section…..