S23 tax relief split?

[morningperson]

If you own a S23 property jointly, is there any tax rules on how the S23 tax relief is split, does it have to be 50/50?
Or is it at the discretion of the owners, e.g. if one person was not in a position to make use of the relief but the other was???

 

[bazermc]

I presume it is based on how the rental income is split, so if the rent is 50/50 then the s23 releif is also 50/50.

I cannnot imagine it being split at the discretion of the owners - anti avoidance etc......

 

[Howitzer]

My understanding is that you can't split the relief whatsoever. If you own the S23 property jointly you may only utilise the relief on other properties that you jointly own. I stand open to correction but that's my understanding.

 

[morningperson]

that would be awkward.....

 

[psygnosis]

I was wondering about this as well anyone got a deinitive answer

 

[morningperson]

I put a query in with the citizens information bureau ([broken link removed] and got this info back:

The Revenue Commissioners has informed us that it is not required to
jointly own theother properties to avail of your 50% section 23 tax relief
on the rental income.

So it looks like the relief is split 50/50 and can used against rental income received from any other properties owned by either party.

 

[bazermc]

Thanks osullmar that makes more sense, as per my original post.