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Housing Schemes

Dáil Éireann Debate, Thursday - 25 November 2021

Thursday, 25 November 2021

Ceisteanna (223)

Pádraig O'Sullivan

Ceist:

223. Deputy Pádraig O'Sullivan asked the Minister for Finance the number of persons that availed of the help-to-buy scheme in Cork city and county in each of the years 2018 to 2020 and to date in 2021; and if he will make a statement on the matter. [58105/21]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

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.

I am advised by Revenue that there have been approximately 3,500 applications for the Help to Buy (HTB) scheme in Cork city and county that have reached claim stage since the inception of the scheme in 2017 (500 in 2017, 550 in 2018, 800 in 2019 and 800 in 2020). According to Revenue, the latest data that is available indicates that there have been 850 claims in the first nine months of 2021.

Revenue publishes detailed annual and monthly statistics on the update of the HTB on its website, available at:

www.revenue. ie/en/corporate/information-about-revenue/statistics/tax-expenditures/htb/htb-yearly.aspx.

and

www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/htb/htb-monthly.aspx.

As the Deputy will be aware, Finance Bill 2021 will extend the Help to Buy scheme for one further year to the end of 2022 and that the scheme will be formally reviewed in the course of 2022.

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