TRS--how long will it last

M

miriammary

Registered User
Messages
33
I bought my home in 2005 as a first time buyer, can anyone tell me how long will I continue to get TRS for

and also could someone tell me how do I calculate it?

What % is it each of those years ?

Thanks.
 
your ceiling is 3000 per person.
so 30% of the ceiling or the interest charged if less than 3k per year.
unless you are with Ulster Bank, and you should be getting 25% and it will be up to the correct 30% in December.
 
Just 2 questions on this?

Does TRS only last for 7 years after you purchase, and then go to Zero, or does it continue at a reduced rate?

And if you move out of the house and rent it out, should you inform the Revenue to stop TRS?
 
Trs runs until 2017, so only 5 years remaining even on a new purchase.

Yes you should inform the revenue if you move out. Not doing so would be tax fraud.
 
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