Saturday February 22, 2020

Turning your spare room into a profit spinner

Pressures in the rental market are forcing people to think outside the box

26th October, 2014
For homeowners renting out a room in their home comes with a significant tax advantage. Picture Thinkstock

In a market where rental supply is tight, many renters are looking for an affordable alternative. For homeowners renting out a room in their home comes with a significant tax advantage, thanks to the government’s rent-a-room tax relief scheme.

Under the rules of the scheme, a homeowner can earn a certain amount of rental income exempt from income tax, PRSI and USC each year by renting out a room, or rooms, in their...

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