Finance Act 2007 - Amendments to section 216A

The 2007 Finance Act was enacted on 2 April 2007. The following pages highlight some of the changes introduced in the Act.

Extract from Tax Briefing

Income Tax

Section 14 amends Section 216A of the Taxes Consolidation Act 1997 which exempts from income tax, income received from the letting of rooms in one’s private residence provided the income does not exceed 7,620. The amendment provides that the exemption does not apply where a child pays the rent to a parent.