Tax Relief for Landlords

Finance Act 2023 introduced a temporary measure for landlords to avail of tax relief against a proportion of their rental income. This relief will be available for the tax years 2024 to 2027 at 20% resulting in a maximum reduction of the liability on rental income by:

€600 in 2024.
€800 in 2025.
€1,000 in 2026 and 2027.

To avail of this credit, landlords must:

Keep the property in the rental market for the succeeding 4 years.
Comply with LPT requirements.
Have a tax clearance certificate.
Where otherwise required, register the tenancies with the RTB.

The relief will be clawed back if the landlord leaves the rental market during this 4-year period.

Rented residential relief will not be available where the property is rented to a connected party (such as relatives of the landlord, or relatives of the landlord’s spouse or civil partner.

Where the property is jointly owned, the relief must be proportioned between the owners.

Additionally, if the landlord owns and rents more than one residential property, the highest amount of relief available will be the same regardless of the number of properties.

If you are a landlord and need support with your tax return then contact us today.