tax on rental income

am i correct in thinking that no tax is liable on the interest portion of the mortgage on a rental property?
as in if the monthly mortgage is 1500 (1200 interest & 300 capital)
Rental Income 1800
then tax in only payable on 600 (1800-1200)

hope this makes some sense, thanks

The interest is allowable as a deduction from the rental income, along with other expenses such as insurance of the property, repairs etc. paid by the landlord. The net income after those deductions is chargeable to tax/prsi/levy at the landlord's marginal rates.

It is important to note that in the case of a rented residential property, the interest deduction is dependent on the property being registered with the prtb ( www.prtb.ie) for all tenancies in the relevant year. If all tenancies have not been registered then Revenue will allow no interest claim for that year. see [broken link removed]