Dáil Éireann Debate, Tuesday - 25 July 2023
324. Deputy Ivana Bacik asked the Minister for Finance how many students have claimed the rent tax credit; how many in total overall have claimed the tax credit to date; the estimated first-year and full-year cost of increasing that to €1,000 for students and then for all; and if he will make a statement on the matter. [36891/23]
View answer331. Deputy Cian O'Callaghan asked the Minister for Finance if he will provide updated figures of the number of people who have claimed the renter's tax credit to date; and if he will make a statement on the matter. [37051/23]
View answer338. Deputy Ivana Bacik asked the Minister for Finance the number of renters who have claimed the renter's credit. [37075/23]
View answerI propose to take Questions Nos. 324, 331 and 338 together.
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, PAYE taxpayers have the option of claiming the rent tax credit due to them either throughout the year as rent is incurred or at the end of the year through their Income Tax return.
I am advised by Revenue that 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.
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.
I am further advised that over 269,052 Rent Tax Credit claims have been made by 240,857 taxpayer units up to and including the 19th July 2023, consisting of:
(i) 200,254 taxpayer units that made claims for 2022 only,
(ii) 28,195 taxpayer units that made claims for both 2022 and 2023, and
(iii) 12,408 taxpayer units that made claims for 2023 only.
In relation to students who have claimed the rent tax credit, the Revenue Commissioners have advised it is not possible to identify students who have claimed the Rent Tax Credit as separate from other taxpayers who have claimed this credit.
In relation to costings, the Department of Finance has opened its pre-budget costings service, this is available with effect from 3 July 2023. The procedures for availing of this service are set out in a letter dated 3 July 2023 from the Secretary General of the Department to all recognised parties and technical groups in Dáil Éireann. To ensure efficiency and fairness all, costing requests should be made in this manner, via the standard request format template, instead of the Parliamentary Question system at this time.
