AAAContributor
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AAAContributor made the point above the legislation states its a tax credit, which should mean getting the entire amount instead of just a percentage @ your marginal tax rate. I guess that's the last thing we have to clear up and I believe waiting for a response on that enquiry.
the person I spoke to in Revenue was surprised at how it was not calculating properly for me. I'm going to leave it a while anyway, see if it's updated to work correctly.
Thanks for the update. I noticed that if you enter the details for RPRIR on the "Irish Rental Income" tab, in the "Print View" tab of the form 11, the rental income section contains some lines on the RPRR [retrofitting rental properties relief]. I've not entered anything in that section to claim relief. I wonder if there are some error in the background code due to confusion between the similarly named RPRR and RPRIR.I called the Self Assessed Income Tax line today and spoke with someone that is aware that the relief is not being accounted for correctly by ROS in the 'Calculate' section of Form 11 and that Revenue are working to address it.
there's no indication as of now as to when that fix will be in place
The latest information from Revenue is that work is underway on a fix for the issue and that the expected release date for the fix is 24 March.
Thanks, great it's sorted. Although I feel like they implemented in a really weird way. I figured they'd just give a tax credit in a similar way to medical expenses.I checked ROS this morning to confirm the above.
The update has been applied and appears to be accounting for the relief as the legislation intended.
In the Calculate section where income is charged to tax at the various rates: standard-20%, DIRT-33%, higher-40%, relevant rate-41% (i.e. exit tax), there is a credit included called 'Capped Relief for 2024 period - Self' which will apply a credit for €600 for the 2024 tax year (if applicable).
Seems very odd. I just submitted my return, after the RPRIR issue was resolved, and I didn't get the same issue you encountered.and none of the fields show any information about the error.
I guess best to ring them!
The relevant section from the legislation is quoted earlier in this thread. As long as your net income from rental [after expenses, mortgage interest etc.] is at least €3000, you should get a €600 credit.I have 30 days to appeal it says. I have an active tax clearance.
Yes I fit the criteria. I'm saying i filed my return, got the €600 credit and not revenue have amended my return knocking €480 off my refund owing.The relevant section from the legislation is quoted earlier in this thread. As long as your net income from rental [after expenses, mortgage interest etc.] is at least €3000, you should get a €600 credit.
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