Dáil Éireann Debate, Tuesday - 17 September 2019
108. Deputy Eoin Ó Broin asked the Minister for Finance the number of properties availing of the tax relief available under section 50 of the Finance Act 1999; the number of properties that have converted from student purpose-built accommodation to private rented accommodation following the end of the ten year stipulation for section 50 builds to remain as student accommodation; and if he will make a statement on the matter. [37544/19]
Amharc ar fhreagraSection 50 of Finance Act 1999 provided for a student accommodation scheme whereby expenditure incurred on student rental accommodation can be set against the rental income from the property and against other Irish rental income, thus reducing the taxable income of the person incurring the expenditure. The relevant provisions in the Taxes Consolidation Act 1997 are contained in Part 10,
Chapter 11, sections 372AK to 372AV.
The scheme has now terminated, in so far as the termination date for incurring qualifying expenditure has now passed. The qualifying period applied up to 31 December 2006, although under certain circumstances the qualifying period could be further extended to 31 July 2008. Claims in relation to qualifying expenditure incurred before the termination date may continue to arise.
I am advised by Revenue that the number of properties availing of tax relief for student accommodation, up to the most recent year for which data are available, is as follows:
|
Year |
Uptake |
|
2017 |
246 |
|
2016 |
292 |
|
2015 |
361 |
|
2014 |
414 |
|
2013 |
537 |
|
2012 |
606 |
|
2011 |
640 |
Information on the number of properties that have been converted from purpose-built student accommodation to private rented accommodation following the end of the ten-year stipulation is not available from tax returns.
