Dáil Éireann Debate, Thursday - 5 February 2015
119. Deputy Michael McGrath asked the Minister for Finance the number of persons who have availed of the home renovation incentive scheme since its inception; and if he will make a statement on the matter. [5363/15]
View answerAs the Deputy will be aware, the Home Renovation Incentive was introduced on 25 October 2013 for repairs, renovations and improvements carried out on a person's main residence. The scheme was extended in the recent Budget to include repairs, renovations and improvements carried out on rental properties, where the relevant owners are liable to income tax. Only works carried out by a tax compliant contractor qualify under the Incentive. It is clear from the figures available that the Incentive has been very successful in boosting activity in the legitimate construction sector and ancillary services.
The electronic facility to allow homeowners claim their tax credit has been available since 13 January 2015. To date, 1,970 claims have been processed, representing total tax credits of €4.3 million. The approach of linking activity to tax compliance is proving to be a successful means of levelling the playing pitch when legitimate traders are competing with those still operating in the shadow economy. This approach will be continued and should encourage those in the shadow economy to regularise their tax affairs and avail of the opportunities that will continue to come on stream in the construction sector.
The information requested is as follows:
General Statistics on Home Renovation activity at 29 January 2015
|
Home Renovation Activity |
Statistics |
|
Number of Works |
20,334 |
|
Number of Properties |
15,487 |
|
Number of Contractors |
4,133 |
|
Value of Works |
€318 million |
