Saturday April 4, 2020

Rent a room: what to know

The tax relief may appear financially attractive, but there are many factors to consider, including sharing your home with a stranger

4th September, 2016
Be sure before you say yes to anyone coming into your home Pic: iStock

Rent-a-room relief is probably the most lucrative tax scheme available to the ordinary householder in Ireland, yet it remains an underutilised scheme.

In essence, the scheme allows a householder to rent out a room in their home and to receive up to €12,000 per annum totally tax free. The money is not liable to income tax, USC or PRSI. You must live in the property as your sole or main residence to avail of the...

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