No, rental deposits are not taxable when received. However, if the deposit is forfeited or used to cover unpaid rent or damages, the amount becomes taxable income in the year it is applied.
Do I have to pay tax on a rental deposit?
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About the Author: Cathal Maxwell
Cathal brings over 40 years of tax experience, advising individuals and businesses on Income Tax, Capital Taxes, Inheritance Tax, Stamp Duty, and VAT.
