page8FAQ2008-03-12T09:26:49.636+00:00Is mortgage interest deductable from Residential Rental Income for income tax purposes?Is_mortgage_interest_deductable2008-03-12T09:26:49.636+00:00
Yes, for interest accruing on or after 1 January 2002 (or before 23 April 1998) on money borrowed to purchase, improve or repair the property. <br /><br />However, from 2006 onwards for an individual, an interest deduction will not be allowed unless it can be shown that the registration requirements of Part 7 of the Residential Tenancies Act 2004 have been complied with in respect of all tenancies that existed in relation to that premises in that tax year.
Do I have to pay tax on profits from the sale of company shares that I held.Do_I_have_to_pay_tax_on_profits2008-03-12T09:14:20.197+00:00
Yes possibly, CGT (Capital Gains Tax) is could be payable if the profit (as calculated for CGT purposes) exceeds your annual exemption (€1,270 for 2007).
I am a PAYE worker with other income (rental income and dividends). Do I need to file a Tax Return?I_am_a_PAYE_worker_with_other_i2008-03-12T09:10:57.706+00:00
Yes, unless the non-PAYE is small and has been included on your PAYE certificate (Certificate of Credits & Standard Rate Cut-off Points) to collect the extra tax due.
Are there any tax savings for the average PAYE worker?Question2008-03-11T18:59:16.933+00:00
Yes, such as certain un-reimbursed medical expenses, service charges paid for bin collection, trade union subscriptions etc