rental income - when to submit returns

[selfbuild]

Hi,

I purchased an investment/rental property earlier this year and started renting it out in July. When do I have to make a tax return in respect of this property? (I was told that I should wait 'till October 2007 to make returns for 2006 - is this correct?)

thanks

sb

 

[ClubMan]

Any use?

Property Investment FAQ

 

[tosullivan]

Hi,

I purchased an investment/rental property earlier this year and started renting it out in July. When do I have to make a tax return in respect of this property? (I was told that I should wait 'till October 2007 to make returns for 2006 - is this correct?)

thanks

sb

That is correct. Get yourself an account on the ROS site. It makes filing your return much simpler

 

[bazermc]

(I was told that I should wait 'till October 2007 to make returns for 2006 - is this correct?)

Income earned in 2006 must be filed on or before 31/10/07.

If you like, you can file early on ROS as suggested, but set the payment for 31/10/07 thereny putting your mind at ease.

I personnally pay and file my return in January, but that is just me.