Dáil Éireann Debate, Thursday - 22 January 2015
73. Deputy Michael McGrath asked the Minister for Finance his views on reports that the Government is to grant additional tax relief to landlords in return for rent certainty leases; if he has discussed these proposals with the Department of the Environment, Community and Local Government; and if he will make a statement on the matter. [3203/15]
View answerI am aware that the Department of the Environment and the PRTB have been examining the issue of the private rental market and looking at possible reforms for this sector. In 2014, the Private Residential Tenancies Board (PRTB) commissioned two research reports to explore the policy options required to ensure a sustainable private rented sector into the future. The main report, entitled 'Future of the Private Rented Sector', examines the economic, policy and taxation treatment of the rented sector.
The second report, entitled 'Rent Stability in the Private Rented Sector', looks at policy options to address the difficulties being experienced in segments of the private rented sector. This report includes an examination of rent regulation regimes in other countries and puts forward a series of policy options in relation to rent stability for consideration, such as -
- Increasing awareness among landlords and tenants of the PRTB and their rights and obligations under the Residential Tenancies Act 2004 - a campaign by the PRTB to deliver on this option is under way;
- Introducing tax incentives in relation to Housing Assistance Payment (HAP) and Rent Supplement tenancies;
- Introducing a rent certainty lease.
The Government is monitoring the rental market closely and the overriding objective in relation to rents is to achieve stability and sustainability in the market for the benefit of tenants, landlords and society as a whole.
While housing policy is a matter for the Department of the Environment, my officials have been in contact with officials in that Department and they are keeping the tax policy aspects of the issue under review. Any such tax proposals would be considered by the Government as part of the annual Budget and Finance Bill process.
