Liam Lawlor
Ceist:104 Mr. Lawlor asked the Minister for Finance if he will respond to the concerns of a person (details supplied) in Dublin 20 regarding tax free allowances for those in rented accommodation. [23673/00]
Written Answers. - Tax Allowances.
Section 473 of the Taxes Consolidation Act, 1997, provides tax relief to individuals for rent paid for private rented accommodation which is their sole or main residence. The level of rent qualifying for relief under section 473 depends on an individual's marital status and age. In relation to age, the relief is divided into two groups; those aged under 55 and those aged 55 and over.
The amount of rent relief which can be claimed by an individual is as follows:
|
Marital Status |
Under 55 years |
55 years and over |
|
00/01 |
00/01 |
|
|
Single |
£750 |
£2,000 |
|
Widowed |
£1,125 |
£3,000 |
|
Married |
£1,500 |
£4,000 |
This relief is available at the standard rate of income tax.
As the Deputy may be aware, the relief was significantly increased in the Finance Act, 2000. However, I will bear in mind the proposals made by the Deputy's constituent in this regard during the preparations for the forthcoming budget.