Dáil Éireann Debate, Tuesday - 21 May 2024
88. Deputy Niamh Smyth asked the Minister for Finance the number of eligible claims currently being made for the rent tax credit in each of counties Cavan, Monaghan, Donegal, Sligo, Leitrim, Roscommon, Mayo and Galway; and if he will make a statement on the matter. [22553/24]
View answerThe Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025.
For the tax years 2022 and 2023, the maximum value of the credit is €1,000 per year in the case of a jointly assessed couple, and €500 in all other cases. Finance Act 2023 increased the value of the credit for the 2024 and 2025 tax years to a maximum of €1,500 for a jointly assessed couple and €750 in all other cases.
I am advised by Revenue that the Rent Tax Credit statistics currently available relate only to claims by PAYE taxpayers.
Claims in respect of the 2022 and 2023 years of assessment can be made by PAYE taxpayers by submitting an Income Tax return for that year. For claims relating to 2024, 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.
Self-assessed taxpayers claim the credit in the year following the payment of rent through their annual Income Tax return. Data on these claims for 2022 is not yet available. Revenue advise me that it will become available in the coming months, once the self-assessed tax returns for that year are fully analysed.
Rent Tax Credit claims are 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.
Data for claims relating to PAYE taxpayers as of 7 May 2024 for each of Cavan, Monaghan, Donegal, Sligo, Leitrim, Roscommon, Mayo and Galway are as follows:
Cavan
• 2,289 taxpayer unit claims for 2022,
• 2,178 taxpayer unit claims for 2023,
• 378 taxpayer unit claims for 2024.
• 4,845 claims for all years.
Monaghan
• 1,971 taxpayer unit claims for 2022,
• 1,831 taxpayer unit claims for 2023,
• 334 taxpayer unit claims for 2024.
• 4,136 claims for all years.
Donegal
• 3,431 taxpayer unit claims for 2022,
• 3,043 taxpayer unit claims for 2023,
• 620 taxpayer unit claims for 2024.
• 7,094 claims for all years.
Sligo
• 3,148 taxpayer unit claims for 2022,
• 2,583 taxpayer unit claims for 2023,
• 519 taxpayer unit claims for 2024.
• 6,250 claims for all years.
Leitrim
• 872 taxpayer unit claims for 2022,
• 738 taxpayer unit claims for 2023,
• 159 taxpayer unit claims for 2024.
• 1,769 claims for all years.
Roscommon
• 1,763 taxpayer unit claims for 2022,
• 1,634 taxpayer unit claims for 2023,
• 334 taxpayer unit claims for 2024.
• 3,731 claims for all years.
Mayo
• 3,964 taxpayer unit claims for 2022,
• 3,552 taxpayer unit claims for 2023,
• 737 taxpayer unit claims for 2024.
• 8,253 claims for all years.
Galway
• 19,358 taxpayer unit claims for 2022,
• 15,874 taxpayer unit claims for 2023,
• 3,462 taxpayer unit claims for 2024.
• 38,694 claims for all years.
