Dáil Éireann Debate, Tuesday - 6 November 2012
241. Deputy Arthur Spring asked the Minister for Finance the extra cost to the Exchequer that would arise if mortgage interest relief was extended to 50% for persons with net income of less than €30,000, and extended to 40% for person's with net income between €30,000 and €40,000. [48212/12]
View answerI am advised by the Revenue Commissioners that based on associating incomes and mortgage interest data for 2010, and applying derived ratios to the estimated cost of mortgage interest for 2012, the full year cost to the Exchequer of extending the rate of tax relief for mortgage interest paid by claimants with income of less than €30,000 to 50%, and of extending the corresponding rate for claimants with income between €30,000 and €40,000 to 40%, is tentatively estimated to be of the order of €145 million and €65 million respectively.
