Rent a Room Relief gives you €14,000 tax free if you follow the correct rules.
Everyone is on airbnb these days. To make their mortgage payments, people had to do something. It’s not tax free though. Don’t get it mixed up with the rent a room scheme.
A lot or people seem to think that the airbnb is tax free under this Scheme. It’s not. Key items to note:
- Unless your “renter” stays at least 28 days in a row. It’s taxable. (College students in digs should be fine though)
- Garden “Chalets” or apartments don’t qualify, but a converted loft, garage or basement does.
The latest info is on this link. Rent A Room Relief Latest
Make sure you declare the income and related expenses.If you wish to declare your rental income, complete my 2 minute questionnaire on irishrentaltax.ie
The tax man will already have received your name from airbnb.
My own view is that airbnb is a great invention. The property owner gives a review of the renter which keeps manners on everything. We all read the stories of errant guests arguing with owners previously when they had done wrong by threatening to give a bad review to tripadvisor or booking.com. This has stopped all that.
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