"To qualify for the tax rebate available under the HTB scheme, you must adhere to certain conditions, including that you live in the property as your main home for five years after purchasing or building the property. If you cease to occupy the property as your main residence before those five years are up, the HTB payment must be repaid to Revenue in whole or in part."
"You should also bear in mind that if you rent out your home while you're living abroad, the rental income will be subject to Irish income tax, even if you don't have any other Irish income at the time. You'd have to file an annual Irish income tax return to declare tax payable on the net rental profits (after accounting for qualifying expenses incurred on renting out the property). There are, however, reliefs available for small landlords that can somewhat minimise the tax bill."
To qualify for the HTB tax rebate, the claimant must occupy the property as their main home for five years. If occupation ceases before five years, the HTB payment must be repaid to Revenue in whole or in part. Occupation is deemed to cease when the claimant vacates and rents the property to a third party, and Revenue must be notified. If multiple first‑time buyers claimed HTB, no clawback applies if at least one claimant remains resident for five years. Clawback rates fall with more years occupied: after three years the rate is 60%, after four years 40%. Rental income while living abroad is taxable in Ireland and requires an annual income tax return; small‑landlord reliefs may reduce the tax payable.
Read at Irish Independent
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