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If I rent out my flat in Dublin can I write off the wear and tear on my furniture?

Ireland Rental Income
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Tax Professional Answers

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Claire McNamara
Hi there

Many thanks for your query.

You can claim a Wear & Tear write off for the furniture in your rental property under Section 97 Taxes Consolidated Acts 1997 provided the furniture was purchased during "the currency of the lease."

What that means is:
(a) if these capital assets were purchased prior to your first letting then they are considered to be "pre-trading" expenses and therefore NOT an allowable deduction.
(b) if they were purchased after the first ever letting and even if the property was vacant during lettings then the expenditure would be allowable if it is used "wholly and exclusively" for your rental business.

The rate of wear and tear write off is 12.5% per annum for eight years. The asset must be in use at the year end to qualify for capital allowances.

I hope that has clarified matters for you. This is a complicated area of tax and you are always advised to check the eligibility of any expenses before completing your Tax Return.

Best Wishes
Claire McNamara
Leave a Comment 291 weeks ago

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