Dáil Éireann Debate, Tuesday - 3 February 2015
252. Deputy Peadar Tóibín asked the Minister for Finance if he will provide in tabular form the total number of applications received under the home renovation incentive to date; the total value of activity under the scheme; if he will provide a breakdown of the activities carried out under the scheme; and if he will make a statement on the matter. [4647/15]
Amharc ar fhreagraAs the Deputy is aware, the Home Renovation Incentive was introduced on 25 October 2013 for repairs, renovations and improvements carried out on a person's main residence. The scheme was extended in the recent Budget to include repairs, renovations and improvements carried out on rental properties whose owners are liable to income tax. Only works carried out by a tax compliant contractor qualify under the Incentive. It is clear from the figures provided that the Incentive has been very successful in boosting activity in the legitimate construction sector and ancillary services.
The electronic facility to allow homeowners claim their tax credit has been available since 13 January 2015. To date, 1,970 claims have been processed, representing total tax credits of €4.3m. The approach of linking activity to tax compliance is proving to be a successful means of levelling the playing pitch when legitimate traders are competing with those operating in the shadow economy. This approach will be continued and I would encourage those in the shadow economy to regularise their tax affairs and avail of the opportunities that will continue to come on stream in the construction sector.
The information requested is as follows:
Table 1 General Statistics on Home Renovation activity at 29 January 2015
|
Number of Works |
20,334 |
|
Number of Properties |
15,487 |
|
Number of Contractors |
4,133 |
|
Value of Works |
€318m |
Table 2 Top 5 Activities by Value
|
Home Extensions |
36% |
|
General Repairs & Renovations |
21% |
|
Window Replacement |
13% |
|
Kitchen Renovations |
10% |
|
Bathroom/Shower/En Suite Improvements |
3% |
Table 3 - Top 5 Activities by Number of Works
|
Window Replacement |
24% |
|
Kitchen Renovations |
19% |
|
General Repairs & Renovations |
12% |
|
Home Extensions |
10% |
|
Bathroom/Shower/En Suite Improvements |
6% |
