Dáil Éireann Debate, Thursday - 22 October 2015
134. Deputy Michael McGrath asked the Minister for Finance the number of first-time buyers who have received a refund of deposit interest retention tax paid in the previous 48 months; when the scheme is due to be completed; and if he will make a statement on the matter. [36937/15]
View answerSection 266A of the Taxes Consolidation Act 1997 provides for refunds of Deposit Interest Retention Tax (DIRT) for first-time buyers who purchase a house or apartment to live in as their home and excludes properties acquired for investment purposes. It also applies to first-time buyers who self-build a home to live in.
The scheme applies to properties purchased by first time buyers or self-builds, during the period from 14 October 2014 to 31 December 2017 inclusive. DIRT eligible for refund is DIRT deducted from interest earned on savings used for the purchase or self-build of a property in the 4 years prior to the purchase date or completion date, respectively.
I am advised by the Revenue Commissioners that, for the period up to end-September 2015, a total of 118 applications for this relief have been received. Of these, 31 are currently being processed, and 74 applicants have received a refund of DIRT amounting to around €74,880. 13 applications have been refused.
