I propose to take Questions Nos. 351 and 355 together.
Finance Act 2022 introduced a new Rent Tax Credit. The credit is available for the tax years 2022 to 2025 (inclusive) with a maximum value of €1,000 per year in the case of a jointly assessed married couple or civil partners, and €500 in all other cases.
Full details of how to claim the tax credit and the conditions that apply are set out in the relevant Tax and Duty Manual (Part 15-01-11A) available on the Revenue website at the following link:
www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/land-and-property/rent-credit/index.aspx.
One of the key eligibility criteria is that the claimant and the landlord may not be parent and child, or vice versa. Where such a relationship exists, the Rent Tax Credit will not be available, irrespective of tenancy type.
As the Deputies will appreciate, the scheme is structured so as to seek to minimise the potential which may arise for contrived arrangements. This is not to imply any impropriety whatsoever in the specific circumstances which are presented in the details supplied. At the same time, however, the design of the credit must have regard to the need for prudent management of limited Exchequer resources on behalf of all taxpayers.