Question
We have a rental property in my wife's name. Is she able to pay me to maintain and manage the property, and to then off-set this against her tax liability?
Arthur Says:
Yes, she is able to do so. However, the Revenue are suspicious of such arrangements, understandably. Firstly, you must be able to show that you are doing work that, if it wasn't you who did it, your wife could be reasonably expected to hire and pay someone else to do. Secondly, you must be paid a reasonable amount for the work involved, not excessive. An amount she would pay a third party to do such work. Thirdly, the money should go from her business bank account to a bank account in your name. Fourthly, you will need to declare this income to the Revenue as your taxable earned income.