Ivana Bacik
Question:194. Deputy Ivana Bacik asked the Minister for Finance the number of renters who have claimed the renters tax credit. [41618/23]
View answerTuesday, 26 September 2023
Questions (194)
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, PAYE taxpayers have the option of claiming the rent tax credit due to them either 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.
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 advised by Revenue that as of 13 September 2023, over 286,419 Rent Tax Credit claims have been made by 252,317 taxpayer units consisting of:
(i) 202,982 taxpayer units that made claims for 2022 only,
(ii) 34,102 taxpayer units that made claims for both 2022 and 2023,
(iii) 15,233 taxpayer units that made claims for 2023 only.