Tax rebate on private residential leases - Amalgamation with TA24

Persons who derive income from a private residential lease which is registered with the Housing Authority as a long lease, are eligible for a tax rebate against the tax chargeable on such rental income.

The rebate is applicable on registered leases as from the basis year 2020 where the tax on such lease is being paid at the rate of 15%.

In the event that a lease falls short of a full year, the rebate is reduced proportionately to the number of days for which the lease is carried out.  The rebate for any year cannot exceed 15% of the rent derived for that same year.

The maximum amount of tax rebate is as follows:

Lease Duration

Number of bedrooms

Tax Rebate

At least 2 years but less than 3 years

One

€200

Two

€300

Three or more

€400

Three years or more

One

€300

Two

€400

Three or more

€500

The tax rebate is to be claimed through the online filing of the TA24.

The deadline for the submission of the TA24 and payment of the tax on rental income received during the year 2020 is 30 April 2021.  Late submissions are subject to interests as prescribed by Law.

Should you need any assistance with the submission, do not hesitate to contact us. 

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