M maison Registered User Messages 53 8 Oct 2007 #1 Could anyone give me an idea of how much tax relief you'd get per month on a mortgage for a house costing about 200000?
Could anyone give me an idea of how much tax relief you'd get per month on a mortgage for a house costing about 200000?
M MichaelDes Registered User Messages 431 8 Oct 2007 #2 5% of 200,000 is 10,000 so if you are a 40% or 20% taxpayer x that by the 10,000. If your rate is higher or lower than 5% do the maths similarly.
5% of 200,000 is 10,000 so if you are a 40% or 20% taxpayer x that by the 10,000. If your rate is higher or lower than 5% do the maths similarly.
T Threadser Registered User Messages 480 8 Oct 2007 #3 I have a mortgage of 186,000 and the interest tax relief on this is 117 euro per month. Every little helps!
I have a mortgage of 186,000 and the interest tax relief on this is 117 euro per month. Every little helps!
L LDFerguson Registered User Messages 4,794 8 Oct 2007 #4 MichaelDes said: 5% of 200,000 is 10,000 so if you are a 40% or 20% taxpayer x that by the 10,000. If your rate is higher or lower than 5% do the maths similarly. Click to expand... Tax relief on a residential mortgage is always at the 20% rate and is capped at a maximum of €3,000 for a single, non-first-time-buyer. Maison - how long ago since you purchased your first home? Are you buying on your own or with someone else?
MichaelDes said: 5% of 200,000 is 10,000 so if you are a 40% or 20% taxpayer x that by the 10,000. If your rate is higher or lower than 5% do the maths similarly. Click to expand... Tax relief on a residential mortgage is always at the 20% rate and is capped at a maximum of €3,000 for a single, non-first-time-buyer. Maison - how long ago since you purchased your first home? Are you buying on your own or with someone else?
C Citizen Jake Registered User Messages 30 9 Oct 2007 #5 If two people [single] are buying a house together, do they just fill out the one TRS form or do they file separate TRS tax relief? JAKE
If two people [single] are buying a house together, do they just fill out the one TRS form or do they file separate TRS tax relief? JAKE
L LDFerguson Registered User Messages 4,794 9 Oct 2007 #6 They each fill out a separate TRS form. Instructions are on [broken link removed] itself.