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Tax rebate on private residential leases

Publication Date: Feb 11, 2021
 
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 proportionate 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 maximun 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.