Tax Code

Dáil Éireann Debate, Wednesday - 11 June 2014

Wednesday, 11 June 2014

Questions (44)

Brendan Griffin

Question:

44. Deputy Brendan Griffin asked the Minister for Finance further to Parliamentary Question No. 62 of May 2014, the position of a person (details supplied) in County Kerry who was adversely affected by the changes to the OPFTC in budget 2014 and now faces losing their home and consequently placing a financial burden on the State; if he will look at ways of easing the financial impact of this measure on such persons by introducing a limited credit for secondary carers who do not qualify for the SPCCC; and if he will make a statement on the matter. [24927/14]

Written answers

Minister for Finance

As outlined in my previous response to the Deputy in this matter, it is essential to regularly review all tax reliefs, credits and incentives in order to ensure that they are properly targeted and if necessary re-focused in order that they can achieve the socio-economic objectives that are set for them.

To introduce a limited credit to assist those in particular circumstances who have lost the benefit of another tax credit, due to it being refocused, would undermine the intentions behind any targeting or refocusing of tax reliefs, credits and incentives.

It is estimated that the loss of the one parent family tax credit to an individual earning the average industrial wage, calculated at €32,450, would be approximately €31 per week.

I would remind the Deputy that the tax system already provides tax relief at source on mortgage interest paid to assist individuals with managing their mortgage repayments.