Michael McGrath (Cork South Central, Fianna Fail)
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917. To ask the Minister for Education and Skills in respect of the student grant scheme for third level, if rental income is included on a gross basis or net of certain expenses and allowance; and if she will make a statement on the matter. [41883/14]

Jan O'Sullivan (Limerick City, Labour)
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Article 23 of the Student Grant Scheme 2014 sets out the terms under which rental income is assessed.No allowance is made for depreciation, interest on borrowings which fund the asset, tax capital allowances or for any capital expenditure, regardless of how it is treated for income tax purposes.

In calculating reckonable income no account is taken of capital assets. Therefore no deduction is given for capital expenditure, regardless of how it is treated for income tax purposes.

Rental losses cannot be offset against other income in the reference period.