Can I use AirBnB to pay my mortgage?

[mmdia82]

@twinklesamir Do you have a point?

 

[rickylee]

@mmdia82 You need to declare and pay income tax on any AirBNB income, and it will be in addition to your normal income so at the marginal rate.

If you rent out a room to someone you can avail of the rent-a-room-scheme, you can rent out up to €14k a year tax free. AirBNB is not included in the rent-a-room-scheme.

Given you will be living in the house, there are pro's and con's to both options, however assuming you are on the marginal rate, you would need to earn an extra €28k a year to make up what you would on the rent-a-room-scheme, but of course it would mean sharing your home.

Note that if you even go €1 over the €14k a year (including bills), you will pay tax on the full amount.

 

[mmdia82]

@rickylee I have no interest in renting a room out - I am not looking for a comparison of both options as I will not be doing that one regardless. I'm seeking advice on AirBnBing my apartment occasionally.

 

[rickylee]

@mmdia82 Gotcha. Well you have to declare every € of AirBNB income and you will pay income at your marginal rate, so depending on how much your earn, it could be 52%.

AirBNB are obliged to report all payments to revenue, so if you don't declare it, you may well get a big tax bill at some stage.