Private Residential Leases (Tax Rebate) Rules, 2020
On the 23rd June 2020, by virtue of Legal Notice 258 of 2020, the Private Residential Leases (Tax Rebate) Rules were published, bringing into force a new tax rebate system applicable to private residential leases that exceed two years and for which the lessor has opted for the 15% final tax system of taxation.
The rules apply to income derived on or after 1st January 2020 from a private residential lease with a duration of two years or more that is registered with the Housing Authority as a long private residential lease in accordance with the Private Residential Leases Act. In relation to the duration period, the duration of a lease shall be arrived at by reference to the original period as agreed in the relative contract, and no regard shall be taken of any period of renewal or extension of the original period.
The amount of the tax rebate depends on the duration of the lease and the number of bedrooms in the respective property as per below table.
|Duration of the Lease||Number of Bedrooms||Tax Rebate|
|At least two years but less than three years||One||€200|
|Three or more||€400|
|Three years or more||One||€300|
|Three or more||€500|