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Departmental Schemes

Dáil Éireann Debate, Wednesday - 30 June 2021

Wednesday, 30 June 2021

Ceisteanna (81)

Catherine Connolly

Ceist:

81. Deputy Catherine Connolly asked the Minister for Finance the cost to date of the help-to-buy scheme; the breakdown of the cost of the scheme in each of the years 2017 to 2020 and to date in 2021; and if he will make a statement on the matter. [35106/21]

Amharc ar fhreagra

Freagraí scríofa

The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with a deposit they need to buy or build a new house or apartment. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act (TCA) 1997 outlines the definitions and conditions that apply to the HTB scheme.

According to Revenue data, as of end May 2021, since the inception of the scheme the estimated total value of approved HTB claims to date is in the order of €437 million.

The table below summarises the value of approved HTB claims for each year since the inception of the scheme until June 2021.

Year

2017*

2018

2019

2020

2021 (Year to end May)

Total

Value (€m)

69

73

102

126

67

437

*The 2017 figure includes approved retrospective claims made in 2017 in respect of the period 19 July 2016 to end 2016, as provided for in the relevant legislation.

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