As a landlord of residential premises, you may be eligible for the new Residential Premises Rental Income Relief (RPRIR) for the years 2024 to 2028. This relief provides a credit of up to €600 for the year 2024.
To qualifi for 2024, the following conditions must be met by 31st December 2024:
- The property must be a rented residential premises located in Ireland.
- The property must be occupied or actively marketed for rent on 31st December of the tax year (proof will be required).
- The tenancy must be:
- Registered with the Residential Tenancies Board (RTB),
- Let to a public authority, or
- Under specific housing regulations.
- The property must comply with Local Property Tax (LPT) requirements for all qualifying premises.
- You must hold valid tax clearance as of 31st December of the year the relief is claimed.
Please note that it is your responsibility to ensure compliance with points 1—4 before 31st December 2024.
Important Exclusion
Relief cannot be claimed if the tenant is a connected party to the landlord, such as certain family members.
Clawback of Relief
Please be aware that a clawback of the relief may occur if, within four years:
- The property is sold or ceases to be rented as a qualifying premises.
- The property is rented to a connected party, used for short-term rentals, or removed from the residential rental market.
For more details see https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/land- and-property/rprir/index.aspx
Disclaimer: This is not to be taken as financial advice and it would be best to follow the link provided and contact your accountant for more information and to make sure you are eligible.
