Dáil Éireann Debate, Thursday - 7 June 2012
58 Deputy David Stanton asked the Minister for Finance if, in view of the increase in mortgage interest relief for houses purchased between 2004 and 2008, consideration will be given to persons who purchased in 2008 but were unable to finalise the deals until 2009; and if he will make a statement on the matter. [27646/12]
Amharc ar fhreagraIn my Budget speech, I stated that a new 30% rate of tax relief on interest paid would apply "for first time buyers who took out their first mortgage" in the period 2004 to 2008. The legislation to give effect to this was introduced by way of Section 9 Finance Act 2012 and provides that the new 30% rate of tax relief applies to qualifying interest paid on a qualifying loan taken out on or after 1 January 2004 and on or before 31 December 2008. In addition, I have sought to be as flexible as possible within the constraints pertaining. A mortgage holder will qualify for the increased rate if they made their first mortgage interest payment in the period 2004 to 2008 or if they drew down their mortgage in that period. I do not intend to extend the parameters of the measure any further as it would become less targeted and more costly.
