Stockmaster
Registered User
- Messages
- 25
I notice that all the discussions on rentals returns on property, suggest 41% tax, PRSI 4% and USC 7%. My question si if you are retired and you have no or little income. Then is your investment income not taxed at the lower rate. i.e the 20% rate, The table below is copied from an example at the 14% rate.
These are the figures for the property
|Investment|||95,000
Rental Income|||7,425
No of months|11||
Rent per month|675||
||||
Prtb|90||
Property Ins|400||
Property Tax|225||
Advertising|100||
Other expenses|1000||
Total Projected Expenses||1,815|
||||
Gross return after expenses|||5610
USC|7%|393|
Income Tax|41%|2300|
PRSI|4%|224|
||||
Total Tax|||2917
Net Return||||2,693
||||
Net Return on investment||||2.83%
|||||[/QUOTE]
These are the figures for the property
Rental Income|||7,425
No of months|11||
Rent per month|675||
||||
Prtb|90||
Property Ins|400||
Property Tax|225||
Advertising|100||
Other expenses|1000||
Total Projected Expenses||1,815|
||||
Gross return after expenses|||5610
USC|7%|393|
Income Tax|41%|2300|
PRSI|4%|224|
||||
Total Tax|||2917
Net Return||||2,693
||||
Net Return on investment||||2.83%
|||||