TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Tax on Second Homes – Deductibility from Rental Income?

Revenue has confirmed, through the TALC forum, that the €200 local authority charge is not an allowable deduction in computing taxable rental income.

Taxpayers who have paid the €200 second home tax in 2009 cannot claim for this expense when computing their 2009 taxable rental income. In computing the net rental amount received, only those deductions that are specified in section 97(2) TCA 1997 are allowable.