Dáil Éireann Debate, Wednesday - 15 December 2010
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Tax Reliefs
112 Deputy Mary Wallace asked the Minister for Finance the way in which the new standard rate of tax relief on expenditure up to €10,000 on home energy savings works will operate; the works covered by the scheme; and if he will make a statement on the matter. [47529/10]
Amharc ar fhreagraTax relief for Energy Efficiency Measures (REEM) was announced in the Budget and will be introduced in the forthcoming Finance Bill. It is intended that the relief will encourage individuals to invest in making their homes more energy efficient. The incentive will complement the grant aid that is available through various schemes currently operated by the Sustainable Energy Authority of Ireland. Standard rated tax relief will be available, on a subsequent year basis, on expenditure of up to €10,000 on a list of approved works. The total relief available in any one tax year will be €30 million which will allow for remedial works to be carried out on a minimum of 15,000 homes.
Full details of the new incentive will be provided in the forthcoming Finance Bill.
