Tax on rental income

[Mauraf]

Hi..
Myself and my husband have just bought a house and are moving out of our apartment whicj we hope to rent in the coming weeks.

Can anyone advise how much tax we will be paying on rental income of 1200 per month? We have a joint income of just over 100k per annum.

In addition - can anyone advise what I have to do to declare this income?

Thanks for the advice!

Mauraf

 

[webtax]

You won't have to submit a tax return until Oct 2009, so you won't have any tax bill for a while.
You need to have owned the apartment for over 2 years to avoid any stamp duty clawback, and you should inforn your bank that you are not longer claiming mortgage interest relief on this property. You need to register with the PRTB to claim your mortgage interest as an expense against your rental income.