Taxes Consolidation Act 1997 section 480C

Residential premises rental income relief

Section 480C provides a tax credit for individual landlords of rented residential property, known as the residential premises rental income relief (RPRIR), with a maximum credit of €600 in 2024, €800 in 2025 and €1,000 in each of 2026 and 2027.

• An individual landlord of a qualifying residential premises may claim a tax credit equal to the lowest of the maximum credit for the year (€600 for 2024, €800 for 2025, €1,000 for 2026 and 2027), 20% of the Case V profits from qualifying premises, or 20% of the landlord's overall Case V income, after capital allowances and loss relief.
• The property must be a rented residential premises situated in the State, owned by the landlord on 31 December in the year of assessment, and either occupied by a tenant under an RTB-registered tenancy, let to a public authority, subject to Part II of the Housing (Private Rented Dwellings) Act 1982, or being actively marketed for rent.
• Relief is not available where any of the landlord's qualifying premises is let to a connected person or to an uncle, aunt, niece or nephew of the landlord or the landlord's spouse or civil partner, and the landlord must hold a valid tax clearance certificate and be compliant with local property tax obligations on 31 December in the year of claim.
• Relief is clawed back if, within four consecutive years beginning with the first year of claim, the landlord ceases to own any qualifying premises held during that first year or lets any such premises to a connected person or specified relative, but a clawback does not arise solely because the landlord dies during a relevant year of assessment.