Did you know you can earn up to €10,000 a year tax free through the rent a room scheme?
Under the Rent-a-Room scheme, you can receive up to €10,000 in rental income tax free, when you rent a room or rooms in your principal private residence as residential accommodation.
This means that you can use the empty bedrooms in your house to generate tax free income, which could be put towards paying your mortgage, thus reducing the financial burden on you.
In addition to this, the tenant that you rent a room to is also entitled to claim tax relief on the rent that they are paying to you.
It should be noted that this rule does not apply to a situation where you are renting a room to a son or daughter
So click here and see what new homes are for sale on www.chap.ie
(Source: www.revenue.ie )
