Dáil Éireann Debate, Wednesday - 17 September 2014
190. Deputy Ruth Coppinger asked the Minister for Finance the cost of mortgage interest relief to the Exchequer in 2012 and 2013; the amount of that total benefited those paying the higher and lower rates of income tax; and the average annual cost of mortgage interest relief per household and per income tax payer. [33041/14]
View answerI am informed by the Revenue Commissioners that the cost to the Exchequer of mortgage interest relief for principal private residences by way of tax relief at source (TRS) in the years 2012 and 2013 is as follows:
|
Tax Year |
Cost - €m |
Number of Claimants |
|
2012 |
411 |
508,200 |
|
2013* |
353 |
492,700 |
*This figure is provisional and subject to revision.
A breakdown of the above amounts by those paying the higher and lower rates of income tax is not readily available. Mortgage interest relief is provided by way of the TRS system, regardless of whether the individual has an income tax liability or not. Therefore, information on the income of individuals in receipt of mortgage interest relief is not necessary for the administration of the granting of TRS. An estimate could only be provided by undertaking an extensive review of Revenue records and would likely require further development of the Revenue forecasting model. Furthermore, I am advised by the Revenue Commissioners that they are unable to provide an average annual cost of mortgage interest relief per household.
