Dáil Éireann Debate, Wednesday - 20 June 2012
44 Deputy Regina Doherty asked the Minister for Finance if persons who rent out their home residence property due to negative equity, will retain mortgage interest relief; and if he will make a statement on the matter. [29926/12]
Amharc ar fhreagraThe position is that mortgage interest relief is only available in respect of interest paid by an individual on a loan used by that individual for the purchase, repair, development or improvement of his/her sole or main residence. However, it should be noted that an individual who rents out their residential property may be allowed a deduction, subject to certain conditions, in computing the taxable rents from that letting of 75% of the interest accruing on monies borrowed to purchase, improve or repair that property.
