End of tax relief on rent will lead to tax evasion?

[seabhcan]

I rent and get 800 euro income tax relief as a result. To get this relief, I have to get my landlord's pps number, give it to Revenue, and tell them how much rent i pay. My landlord then pays much more than 800 euro tax on the rent I pay.

Is it logical to scrap this tax relief, as is suggested in the budget? I certainly wont be helping Revenue track down landlords in future - and it will be far easier for landlords to evade tax.

 

[LineInTheSand]

I rent and get 800 euro income tax relief as a result. To get this relief, I have to get my landlord's pps number, give it to Revenue, and tell them how much rent i pay. My landlord then pays much more than 800 euro tax on the rent I pay.

Is it logical to scrap this tax relief, as is suggested in the budget? I certainly wont be helping Revenue track down landlords in future - and it will be far easier for landlords to evade tax.

This has always been given as the main benefit of this relief, but I wonder how many buy to let investors are actually making a profit on their rent. Also they have already identified a lot of them using this scheme.

 

[Partizan]

I rent and get 800 euro income tax relief as a result. To get this relief, I have to get my landlord's pps number, give it to Revenue, and tell them how much rent i pay. My landlord then pays much more than 800 euro tax on the rent I pay.

Is it logical to scrap this tax relief, as is suggested in the budget? I certainly wont be helping Revenue track down landlords in future - and it will be far easier for landlords to evade tax.

You dont need to get your LL's PPS no. to claim your rent relief. All you need to do (if you are claiming online) is to fill in his name and the address of the house apartment where you are living. The Revenue will do the rest.

 

[seabhcan]

You dont need to get your LL's PPS no. to claim your rent relief. All you need to do (if you are claiming online) is to fill in his name and the address of the house apartment where you are living. The Revenue will do the rest.

You sure? There is a space for the PPS number.

Anyway - its getting scrapped. So it doesn't matter anymore.

 

[patslatt]

That was a snitch bribe disguised as tax relief!

I rent and get 800 euro income tax relief as a result. To get this relief, I have to get my landlord's pps number, give it to Revenue, and tell them how much rent i pay. My landlord then pays much more than 800 euro tax on the rent I pay.

Is it logical to scrap this tax relief, as is suggested in the budget? I certainly wont be helping Revenue track down landlords in future - and it will be far easier for landlords to evade tax.

 

[bobbysands81]

Why do you post in that way patslatt?

Can you not just write in the place that you're meant to write in instead of your usual attention seeking?

 

[Passer-by]

Is it logical to scrap this tax relief, as is suggested in the budget? I certainly wont be helping Revenue track down landlords in future - and it will be far easier for landlords to evade tax.

That is probably the reason it is being done...

 

[Still Sceptical]

Time for a proper land register then eh?

Anyway, shouldn't all rental accommodation be declared with the PRTB? You would find tax evaders that way.

 

[Dunlin3]

There are now heavy penalties for landlords who do not register with the Private Residential Tenancies Board. If they don't register and don't declare rental income then they will be in for a double financial hit.

 

[An Gilladaker]

There are now heavy penalties for landlords who do not register with the Private Residential Tenancies Board. If they don't register and don't declare rental income then they will be in for a double financial hit.

And pigs will fly :lol:

 

[seabhcan]

And pigs will fly :lol:

Exactly.

And all landlords are supposed to provide an energy rating cert too. I've never heard of or seen one. No-one does this. There seems to be no punishment for not complying with the law.

 

[Ireland_sucks]

I rent and get 800 euro income tax relief as a result. To get this relief, I have to get my landlord's pps number, give it to Revenue, and tell them how much rent i pay. My landlord then pays much more than 800 euro tax on the rent I pay.

Is it logical to scrap this tax relief, as is suggested in the budget? I certainly wont be helping Revenue track down landlords in future - and it will be far easier for landlords to evade tax.

The max tax relief is €400.

And the relief is not abolished, it's to be phased out over several years.

 

[Dunlin3]

And pigs will fly :lol:

Well they're starting to fly.

Landlords brought to book with IT system - National News, Frontpage - Independent.ie

 

[Harmonica]

Well they're starting to fly.

Landlords brought to book with IT system - National News, Frontpage - Independent.ie

It only took 7 years after the Private Residential Tenancies Board was setup.

 

[seabhcan]

The max tax relief is €400.

And the relief is not abolished, it's to be phased out over several years.

Its 800 for a couple.