Ivana Bacik
Question:373. Deputy Ivana Bacik asked the Minister for Finance the number of renters who have claimed the renters' credit this year. [16980/23]
View answerTuesday, 18 April 2023
Questions (373)
Written answers
The Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end 2025.
Claims in respect of the 2022 year of assessment can be made by PAYE taxpayers by submitting an Income Tax return for that year. For claims relating to 2023, from 20 February 2023 onwards, PAYE taxpayers now have the option of claiming the rent tax credit due to them as rent is incurred or at the end of the year through their Income Tax return.
The Rent Tax Credit statistics currently available refer only to claims by PAYE taxpayers for the 2022 tax year and the 2023 tax year to-date. Data on claims by self-assessed taxpayers is not yet available as these taxpayers’ returns are generally submitted later in the year. The statutory filing date for the 2022 tax return for self-assessed taxpayers is 31 October 2023.
Over 216,000 Rent Tax Credit claims have been made by over 201,000 taxpayer units up to and including the 12 April 2023, consisting of:
- 180,129 taxpayer units that made claims for 2022 only,
- 14,378 taxpayer units that made claims for both 2022 and 2023, and
- 7,456 taxpayer units that made claims for 2023 only.
- The Rent Tax Credit claims made are on a ‘taxpayer unit’ basis. A taxpayer unit is either an individual with any personal status who is singly assessed or a couple in a marriage or civil partnership who have elected for joint assessment.