Dáil Éireann Debate, Tuesday - 21 January 2014
211. Deputy Derek Nolan asked the Minister for Finance if there is a breakdown, by county, of the homeowners who have availed of the home renovation scheme tax break; and if he will make a statement on the matter. [2537/14]
View answerAs the Deputy is aware, I announced the Home Renovation Incentive in the recent Budget. This scheme came into operation on 25 October 2013 and will run until 31 December 2015. The incentive provides tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a principal private residence.
The scheme will be administered through Revenue's online systems. Contractors will be required to inform Revenue in advance of details of works to be carried out and will also be required to notify Revenue in relation to any payments received in respect of the works. Homeowners will be able to view the information provided to Revenue by the contractor through the Revenue electronic systems and will also claim the relief through those systems.
It is anticipated that this system will 'go live' in early April 2014. Contractors will need to enter the details of works carried out within 28 days of the electronic system becoming available. Until the system is live and details of works carried out are entered, there are no figures available on the incentive.
