Sunday 5th February 2012

Tax Refunds for Management Fees

bins_50Are you Renting or a Home owner and paying management fees?

Not all of your apartment or home management fees are worth a tax credit, but they could still be worth a few quid.

If your management fee includes the cost of waste disposal or a charge for water or sewerage, then you could be able to claim that portion of the management fee against the service charges tax credit.

Service charges tax credit allows you to claim 20% of the cost of these services up to a maximum of €400 – giving a tax credit of €80.

However, you will need your management company to bill separately for these charges, or the costs will not be allowed by Revenue.

And given that you can claim back 4 years, that could be worth €320.  Well worth talking to your management company about!

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Posted in Bin & Service Charges, Income Tax, Paye Tax, Tax Refunds Tagged , , , , , , , , Leave a comment

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