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  1. #1

    Default IRD IR3 online - other rental income?

    Hi

    Filling in the IR3R online for the first time.
    The IRD has prefined my income streams and listed one of them as "other rental income". I can then also tick "residential rental income", which I have done.
    The next page, then is querying why I have changed / added the information.

    What is the difference between "other rental income and residential income.

    This is renting out my own house, and have not set up a company to do so.

    Any ideas?

  2. #2
    Join Date
    Oct 2013
    Posts
    1,723

    Default

    Quote Originally Posted by superoman View Post
    Hi

    Filling in the IR3R online for the first time.
    The IRD has prefined my income streams and listed one of them as "other rental income". I can then also tick "residential rental income", which I have done.
    The next page, then is querying why I have changed / added the information.

    What is the difference between "other rental income and residential income.

    This is renting out my own house, and have not set up a company to do so.

    Any ideas?
    Residential rental income is renting out a property for someone to live in long term.
    Other rental income is renting out anything else. A commercial property (shop, warehouse, etc) or land lease would be the most common examples.

    Sounds like you have residential rental income. If they want to know why you ticked the box, tell them why you ticked the box.
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  3. #3
    Join Date
    May 2004
    Posts
    2,910

    Default

    That will be the Confirmation section on the IR3. Just put 0.00 in the Other rental income box and add to the CONFIRM field something like Residential Rental income added.

    Or you can remove a 'type' under Manage Income Types.
    Last edited by artemis; 07-06-2020 at 08:29 AM.


 

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