Thomas Gould
Question:79. Deputy Thomas Gould asked the Minister for Finance his plans to continue the temporary help-to-buy extension beyond 31 December 2020. [24595/20]
View answerThursday, 17 September 2020
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The Help to Buy incentive (HTB) is a scheme to assist first-time purchasers with a deposit they need to buy or build a new house or apartment. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation.
The enhanced level of support under the scheme, which was announced as part of the July Stimulus Package, applies to applicants who, on or after 23 July 2020 (and up to 31 December 2020), enter into a contract for the purchase of a new house or who make the first draw down of the mortgage in the case of a self-build. The purpose of the measure was to stimulate demand from first-time buyers for new houses in the housing market and to encourage house completions.
With less than four weeks to go to 13 October, it would be inappropriate for me to comment on what may or may not be contained in Budget 2021.