Dáil Éireann Debate, Tuesday - 16 January 2018
218. Deputy Michael McGrath asked the Minister for Finance if a person (details supplied) in County Cork qualifies for mortgage interest relief on the mortgage of their family home in view of the circumstances that apply. [55249/17]
View answerI am advised by Revenue that Section 244 of the Taxes Consolidation Act 1997 provides for mortgage interest relief in respect of qualifying interest paid in a tax year.
In order to qualify for the relief, a loan must be exclusively used to purchase, repair, develop or improve the principal private residence of the claimant.
In the case to which the Deputy refers, while the loan was secured on the family home, it was not used for qualifying purposes in accordance with the Act and therefore does not qualify for mortgage interest relief.
