Taxpayers who earn rental income from the second property of theirs often don’t know what they need to do when it comes to declaring this income to the Receiver of Revenue. Sometimes taxpayers think that they don’t have to declare this extra income, or can hide it from the Receiver of Revenue by not entering it on their tax return form – a big mistake!
The truth is that extra income earned from the rental is taxable, and the Receiver of Revenue needs to know about it. However, declaring this income doesn’t mean all is lost. There are a few things taxpayers can do to reduce the extra tax now owing.
“Real estate investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth”.
– Robert Kiyosaki
ThePropertyBusiness 
You must be logged in to post a comment.