31 March 2022

For those with residential investment property, you are able to claim a deduction for mortgage interest against your rental income for a mortgage that is used to purchase, improve or repair your rental property.

You can claim the interest deduction for tax purposes :

• while your property is rented out
• in between renting out the property as long as you do not live in it during that time.

provided you are registered with the Residential Tenancies Board.

You cannot claim Mortgage Interest between the time you buy the property and the time you first rent out the property.

There is an important change to tenancy registration with the Residential Tenancies Board. Annual tenancy registration comes into effect from 4 April 2022. This means landlords must register their tenancy every year, within one month of the anniversary of when the tenancy began.

This will apply to new and existing tenancies.

More Details

For more information see https://www.rtb.ie/annual-registration

Disclaimer :

Whilst every effort has been made to ensure the accuracy of matters covered by this article, no responsibility for loss or damage occasioned by any person acting, or refraining from acting, as a result of matters above. Professional advice should always be sought before acting on any interpretation of matters covered by this article.